Denied a Loan Modification? It May Be a Good Thing

Despite the fact that loan modifications should make sense for all involved, the truth is that most loan modifications available today are even worse than the mortgages they’re replacing. Despite the recent headlines about new loan modification programs featuring principal balance reductions, a simple look under the covers reveals these new programs still fail to adequately address the core problem – negative equity. Instead they simply put a band-aid on fatal wound, while telling onlookers everything will be ok.

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Published by Diego Loya

Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.

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