Why are 53% of loan modifications failing? I’d want to look at the loan mod first.

Actually, interest, dividends, and capital gains shold all be added to income and taxed at the same rate. Estates should be taxed at progressive rates of up to 50 % after an deducting an adjusted amount. The adjusted amount should equal the 1975 amount adjusted up by the same amount as the minimum wage.

That out to take care of the f#%^&ng republican assholes who are still trying to peddle their caca. These POS caused this mess and should absolutely get to pay for it, down to their last dime. You break it you buy it.

1. Bank does not wish to cut interest rate.
2. Bank does not wish to extend term of loan.
3. Bank does not wish to forgive any payments.
4. Bank does not wish to defer any payments to end of loan.

They have claimed that the reason for doing so is that they are constrained by the terms of their securitization agreement from doing so.

However, Bair at the FDIC has seen the securitization agreements, and basically stated that all of the bank claims are false–they have the right to do any of the above to maintain the value of the underlying asset.

In addition, my bank in question has recently entered into an agreement with several state’s attorneys to do any and all of the above for homeowners who were oversold their mortgages. (I, however, did not qualify for the program, as my credit was too good then, and is too poor now to qualify for a refi).

BWare–banks have REFUSED to do any proactive mods with me–in fact, their employees have counseled me to go 60+ days delinquent so that additional modification programs are available. Re: anonymous about being tapped out financially–basically, if I had held back about $50K before going to foreclosure/default, I could have bought my way out of many troubles–but that would have been unethical and deeply immoral.