http://www.citizeneconomists.com/blogs/2008/07/24/loan-modifications-adding-salt-to-the-wound/ Citizen Economists is an online economics magazine written by citizen journalists. These ordinary citizens provide reports and commentary on the current events affecting the economics of the fields they work in. Wed, 08 Feb 2012 04:44:52 -0500 http://wordpress.org/?v=2.8.4 hourly 1 http://www.citizeneconomists.com/blogs/2008/07/24/loan-modifications-adding-salt-to-the-wound/comment-page-1/#comment-1370 Josh Dowlut Fri, 19 Sep 2008 18:43:57 +0000 http://www.amateureconomists.com/blogs/?p=174#comment-1370 Fee based loan modification companies are popping up claiming success rates of 95%. Having worked with loss mitigation departments attempting to negotiate short-sales both on the buyer and seller side, I find that figure hard to believe. The loss mitigation departments I have dealt with have been unresponsive, inflexible, disorganized, and apathetic. Perhaps it is because senior management within these companies has another exit strategy for their non-preforming loans: dump them on Joe Taxpayer. Fee based loan modification companies are popping up claiming success rates of 95%. Having worked with loss mitigation departments attempting to negotiate short-sales both on the buyer and seller side, I find that figure hard to believe. The loss mitigation departments I have dealt with have been unresponsive, inflexible, disorganized, and apathetic. Perhaps it is because senior management within these companies has another exit strategy for their non-preforming loans: dump them on Joe Taxpayer.

]]> http://www.citizeneconomists.com/blogs/2008/07/24/loan-modifications-adding-salt-to-the-wound/comment-page-1/#comment-296 Carnival of Personal Finance #163 - “Quotable Quotes” Mon, 28 Jul 2008 09:39:49 +0000 http://www.amateureconomists.com/blogs/?p=174#comment-296 [...] Anthony Luafalealo from Amateur Economists thinks loan modifications just add salt to the wound. [...] [...] Anthony Luafalealo from Amateur Economists thinks loan modifications just add salt to the wound. [...]

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