Data Shows Horrifying Bank Of America Refinance Story Actually Typical

Data Shows Horrifying Bank Of America Refinance Story Actually Typical

The Chicago Reporter is a publication that reports on race and poverty in Chicago. This issue’s cover story is about mortgage modifications and the struggles that homeowners face when trying to access the Obama Administration’s refinance program. Apparently, banks are so incompetent that it can be almost impossible to actually modify your mortgage.

The article tells the story of a small business owner who thought he would always be able to pay his mortgage, but whose work dried up with the economy, and his wife, who was laid off from her full-time job. The husband was injured on the job, and the medical bills piled up. [More]