For every one of these stories I can show you 10,000 who lost their house due to the shenanigans played by the bank in offering to modify and then reneging on their offers. In inducing people to not answer the foreclosure filings and then claiming that they never offered modifications. So its actually nice to hear someone was helped. But please, dont thank Obama for this. It was Treasury that did it, not Obama.
I know the banks were playing games. I once publicly called out a BofA VP on a conference call. It worked wonders, from a position of hitting a brick wall over and over, we got a modification approved in quickly.
Another great help was BBB. Another bank was stonewalling. After trying everything else, we contacted the BBB, and everything worked as it was supposed to.
I cannot advocate for the legal system. If someone has their foreclosure case in front of a judge like Dear, who pressures the banks to reach a settlement, as long as the homeowner is able to come up with a reasonable settlement, and knows what they are doing, they should be OK. I cannot say the same if the judge is Knipel.
I had a person come to me to try and help him with his second mortgage (which was significantly larger than the first) that was about to foreclose. He was on a trial modification with his first mortgage. After analyzing his situation, I advised him to break the trial and go for another attempt at a modification of his first. He followed my advice, the bank rep was shocked when we told him that were breaking the trial modification. At the end everything played out exactly as I had scripted it.