Do you deserve a Loan Modification?

I can't answer that as I don't know everybody's situation, however one thing is CRYSTAL CLEAR! Why are so many people seeking help? The unemployment rate has reached double digits and the housing bubble has "popped!" with a dismal recession in play.

We have lived in our only and sole residence since 1998. We had our father co-sign the property who recently passed away. In 2007 we had to quickly re-finance the loan to avoid having the loan called back. Having just done a bankruptcy (due to our business not being successful) our credit was poor. The mortgage broker assured us that we could come back in a year to re-finance. After a year had passed, we couldn't even get the "slippery" bastard on the phone. His supervisors and managers were just as evasive as this scum sucking vermin.

Hamilton Mortgage was the servicing company who quickly bundled the loan with many others and sold it off...to god knows who?
Now we had the Satan of all Satan's servicing our loan, Countrywide (now Bank of America). Talk about a mafia operation! Only the "Friends of Angelo" could get "special" treatment Countrywide Subpoena Moves Closer posted October 21st, 2009.


How did we get into this housing crisis? I point my finger back to the state senators, especially, Barney (butt sniffing) Frank who spear headed the block against more regulatory oversight of Freddie Mac and Fannie Mae. The bleeding heart, well intended Barney wanted more poor people to experience the American dream! Home ownership, whether they could afford it or not.
Please read the September 11, 2003 issue of the New York Times; a newspaper that was never a fan of the Bush Administration. The Bush administration wanted more oversight, but the democrats blocked it. New Agency Proposed to Oversee Freddie Mac and Fannie Mae


The problem was there was so much unethical practices going on to create and bundle these loans. The banks are certainly NOT INNOCENT! Brokers were pulling figures out of their "ying-yangs" to make sure anyone could get a home. We did not pull figures out of the air and actually had to show bank statements and tax returns to get our slice of the "bull shit!" The sad part is we were just trying to stay in our home of 10 years.

Sooooo...does everyone deserve a loan modification? I think an effort needs to be made with legitimate, verifiable information to help people in need. Especially since the government and banks are up to their ears in this elephant "dung" and are the cause of the HOUSING CRISIS and RECESSION - DEPRESSION!

Another interesting video on Youtube, discussing the housing crisis and the esteemed Barney Butt Head Frank!