You’re in trouble with your home loan. Your income has dropped. Your expenses have not. You’ve been dipping into your savings to make your payments, and they’re almost gone. Your retirement account is all you have left. Can you get a mortgage modification? You check www.makinghomeaffordable.com and take the quiz on the site to see if you’d qualify for a mortgage modification. You do! Except that you don’t. What the site doesn’t tell you is that just because you are experiencing hardship doesn’t mean that your loan servicer is going to modify your loan–the program is voluntary and lenders all have their own criteria for determining who gets a modification–and who doesn’t. Continue reading ‘The Truth About Mortgage Modification: What www.MakingHomeAffordable.com Doesn’t Tell You’
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