Is the government's home loan modification program right for you?
Here is a new Post at Is the government's home loan modification program right for you?.
Most home loan modifications lower your interest rate, which in turn lowers your monthly payments. That’s good for you and also for your loan company. As long as you continue to pay, they make more money than they would by having to …
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Loan modification?
It makes sense because the majority of the loans are for more than the house is currently worth. If you walk away from the house then the bank is stuck with the property which no one is paying anything on and it is now worth less than before. So usually they would be taking a huge hit. So they would rather try and make it more affordable to keep you in the house so they are still getting paid and making mony off of you but just not as much before. Sometimes it wil make sense for them to take it away but most of the time it will not just because of the reson I outlined above.
FYI, here is a list of recently published Posts on same topic:-
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Loan Modification not a bad word
I though that might be of interest 
Here is a news article on related topic:-
Bill to Protect Homeowners Against Loan Modification Scams Clears …
Calderon, will prevent a person or a business from charging an upfront fee to a borrower for helping negotiate a loan modification on that borrower´s behalf …
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To acquire mortgage loan modification acceptance, make yourself informed about all the new rules and regulations for organizing loan mod in you area and for your particular lender using the aid of a specialized who is knowledgeable in filing successful loan modification applications. Don”t also forget to get all the required papers prepared ahead of submitting the application to your loan provider .
To acquire loan modification approval, become familiar with the new rules and regulations for preparing a new loan mod in you area and for your particular loan provider with the assistance of an expert who is knowledgeable in filing successful loan modification applications. Don”t forget to get all the necessary papers well prepared before presenting the application to your loan provider .