This entire loan mod thing was a crazy idea to begin with imho.
So the way I look at it…If what you say is true, these banks would be making money off of the fees normally anyway if these mods don’t exist.
Banks shouldn’t be giving breaks to homeowners ANYWAY….Good for the banks imho.
That’s *if* were to believe what the article says verbatim…Somehow though, I don’t think when a bank loses money on say $1million mortgage for which the property is now worh say $800k, would all the fees,apprisals,etc make up for the difference….
Just another article to color the landscape for the poor home buyer “victims” imho.
