Newly released data shows 265,000 homeowners are trapped in loan mod limbo, stuck in “3 month” trial loan periods for over 6 months, reports ProPublica.
That’s up from 100,000 in January. The lagging in decision-making by loan servicers damages homeowners credit, increases their mortgage balance, and prevent homeowners from saving up for a potential foreclosure.
I guess the best tactics for people who need to escalate their loan mods are using all the classic ones at Consumerist, maybe several in conjunction at the same time. Whatever it takes to get the attention of a decision-maker, or push the paper to the next level. EECB + fax ‘em to death + public shaming, for instance?