Mortgage Mods Not Cutting It

[volinbham]

When Mortgage Relief Is a Band-Aid - WSJ.com

Here's what bothers me most about this program and associated attitudes:

"I think the whole process is a sham," Ms. Mason said, angry that the San Francisco bank didn't do more to help reduce her debt load.

Ms. Mason's financial problems stem largely from unemployment, cancer and a post-divorce legal dispute with her former husband. She said Wells Fargo, the fourth-largest U.S. bank in assets, should have reduced her mortgage payments much more deeply to make her financial situation sustainable.

We be in deep doo-doo. Hello Greece!

 

[joevol320]

we'll be greece part II

 

[droski]

strange that being unemployed might hurt your financial situation

 

[Velo Vol]

Here's an alternative. Is it any better?

Mortgages: Walking Away - 60 Minutes - CBS News

 

[TruthIsOutThere]

Here's an alternative. Is it any better?

Mortgages: Walking Away - 60 Minutes - CBS News

Saw this last night. From a business perspective it makes sense. Contracts are business deals, and if you can get a better deal somwhere else and still pay the damages resulting from breach of the first agreement, then walking away is logical.

 

[BigPapaVol]

Saw this last night. From a business perspective it makes sense. Contracts are business deals, and if you can get a better deal somwhere else and still pay the damages resulting from breach of the first agreement, then walking away is logical.

Walking away is logical, but pathetic nonetheless. Unfortunately, the stigma of being a deadbeat is weakening.
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