Some Homeowners Worse After Getting Rushed Into Gov't Loan Mod Program

Some Homeowners Worse After Getting Rushed Into Gov't Loan Mod Program

Despite fulfilling every obligation under trial government-sponsored loan modification programs, some homeowners can end up far worse off than if they had never joined up at all, Propublica reports. That’s because if they’re denied a permanent modification, they have to pay the entire amount that was being discounted, often within a very short period of time. This pushes already strapped families past the breaking point. [More]