[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]
For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.
And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.
If I had a nickel for every . . . nevermind.
Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.
