Going off to see a client, he has been trying for 3 years to get the loan mod but he never missed or late on his mortgage payments. The lender just kept denied his case. Why not? He was paying twice as much (or more) as everyone in the neighborhood. We did tried to do a short sale 3 years ago and he gave up; as he thought that he could get the loan modification and keep his home that he and his wife love.
He saved all the documents to and from the lender. We are going to box it and Fed Ex it to the lender. Just kidding..
Ok, this is not funny, this is a sad story. The gentleman lost all his savings and now going to have to be forced to short sale his home. They kept the home in a great shape and now all the money is gone. What does it say here? That if you are a good citizen work hard, and made good on all of his obligations, that you are better off to just stop paying, save your money and then walk away?
A sad situation - this is what is going on in our country. It does not look that it is going to get any better. Do not think that the government is going to be able to fix it.