The Stealth Problem of Predatory Mortgage Modifications

13 Jun

From: Charles Cox [mailto:charles@bayliving.com]
Sent: Tuesday, June 04, 2013 5:29 AM
To: Charles Cox
Subject: Mortgage Modification Problems

For those of you that are advocates of “loan modifications” (which I am not)…you might find this an interesting take. My position has always been, you cannot “modify” something you do not own and if you could, why not simply refinance. (if you read a “loan modification” agreement…it is only a forbearance and mechanism for the servicer to claim and finance its alleged payments to the purported “investor” and to continue collecting servicing fees and to keep from initiating repurchase agreements)!

>And even in this article…stating the word “banks” is like scratching your fingernails on the blackboard when I hear it.<

C

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