You’re a real dope if you wasted all your time submitting loan modification paperwork to your lender. You’re an even bigger dope if you called the “independent” phone number to find out why it was denied. (almost all were denied after all)….
Of all the possible reasons why the government’s loan modification program has been a dud, at least one has received scant attention: When borrowers are denied a loan mod and call a hotline to have their case reviewed, they are handed off to a nonprofit group created by a large mortgage servicer and largely funded by the industry.
Well ain’t that just great…turns out the biggest dopes in this whole thing are all the American taxpayers…not only did we shovel billions of dollars to the lenders and the servicers and their law firms…we also shoveled millions of dollars off in every different direction…..why has not a single solitary person been placed in handcuffs?