I am on a trial loan mod how can they foreclosure?

Alot of people are doing loan modifcations and are on Trial periods. Most think they are on their way to a permanent modification, but that can be SO FAR from the truth. DONT BE FOOLED BY THESE FREEZES EITHER!

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Education

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• FlipShare
• loan modifications
• short sales
• short pays
• bank repos
• REO
• castaic
• valencia
• the elgin walker team
• elgin walker
• spirituality

[elginwalker]

I agree. People are giving money away. the ones that really need the help are not receiving at least as much as they should. The ones that try and do the right thing get caught up in this

[elginwalker]

I agree. People are giving money away. the ones that really need the help are not receiving

[scvshortsalecenter]

Great Video Elgin. There is a big misunderstanding on this topic and you hit it right on the head. Most folks think their loan modification is approved when they begin making their modified payment. Then when denied have less than 30 days before it is sold as a foreclosure. What a great deal for the banks, they convince the borrower to pay a modifed payment and get "some" money while they are moving forward with the foreclosure all the while. Its better to short sale and make no payments.