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Congresswoman Maxine Waters on hold with Bank Hotline for Loan Modification

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Uploaded on Apr 17, 2009

Maxine Waters a California Congresswoman recently attempted to help a few of her constituents get a hold of their banks in order to re-negotiate the terms of their loan. What she thought would be a simple telephone call turned in to hours of being placed on hold and speaking mainly to automated voices.

After hours of trying to help Congresswoman Waters said, The average American trying to negotiate a loan modification will not be able to get it done,"

While the federal government and banks say they're trying to help homeowners avoid foreclosure through various help lines and more, an ABC News investigation has found that the process of reaching out for help can be disorganized and frustrating, hardly consumer friendly, even when a prominent member of Congress is on the line.

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