Modification is Not for Every Borrower according to a Treasury Adviser

Two questions borrowers frequently ask us,

“How did my neighbor get into HAMP (and/or get a loan modification) but I can’t?
“Do I have to be delinquent to get a workout plan?”

The best answers typically are:

The secret Black Box recipe may not mix well with your situation (read more here on this) because your loan may be [...]

Second wave of foreclosures looming

As reported by Stephanie Armour in USA Today, the next wave is poised to roll in, potentially undermining housing recovery efforts as more homes add to the glut of inventory and drive down prices.
These homes largely represent loans that are delinquent but have not yet resulted in foreclosure sales.
About 7 million properties are destined [...]