Comments on: Loan-modification datapoint of the day http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Ann http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/comment-page-1/#comment-9012 Fri, 20 Nov 2009 19:52:10 +0000 http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/#comment-9012 after 2 years of being unemployed and seeking a modification from Chase bank, they called a week ago to offer the trial period. The thing is,is that now that they are accepting some unemployment situations, we no longer qualify under 9 month guaranteed continuation of unemployment benefits. Yet, they are still offering the trial period. Meaning, if we take it we WILL get a balloon payment at the end of the trial forcing us further more into debt. That is why we will not accept it. We have for the past 2 years been 3 months late on our mortgage. Making payments just before getting a notice to foreclose. This is what we will continue to do. Because at least we are in control and not being drawn in again by predatory banks. And if unemployment is not extended to carry us untill we get a job. At least we will not be further in debt because we accepted a 3-7 month trial period that will only hurt not help us.

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By: gina ferreira http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/comment-page-1/#comment-8733 Fri, 13 Nov 2009 22:01:30 +0000 http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/#comment-8733 Very simply the banks are issuing trial mods to people, leaving them hanging in trial modification limbo for six plus months and then denying for reasons that are never really explained in any detail, be prepared for the next wave of forclosures when these trial mods can no longer remain in limbo. NPV sais your home is worth more in forclosuresigned z

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By: Bill Black http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/comment-page-1/#comment-7860 Tue, 13 Oct 2009 04:11:09 +0000 http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/#comment-7860 It must be understood that an offer for a loan mod can be implemented with only a verbal of the borrowers income and information. In order for it to be considered a true loan modification the the information must be verified and they complete a 90 day trial period and now that has also just been extended 60 days.When you see these kinds of numbers always dig deep into the facts as well as what is the angle of the reporting party- can be definitely construed.

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By: SP http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/comment-page-1/#comment-7758 Fri, 09 Oct 2009 16:39:34 +0000 http://blogs.reuters.com/felix-salmon/2009/10/09/loan-modification-datapoint-of-the-day/#comment-7758 It’s really hard to make coherent comment without geographical breakdown of the figures. I see the Treasury data includes major servicers by name but I’m too lazy to see if that can be mapped easily by state with any degree of confidence.IDK, the dates might be significant (seasonality, how does 09 delinquency by month and state compare with prior yrs) and I’d love to know breakdown by occupation of borrower. Teachers in CA might have feared they’d be out of a job but when school comes around they find they’re not and decide to struggle on? Who knows. Insufficient data.

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