This heading is a typical “theme” throughout the country! There are several reasons for this and I think we can all pick a few top issues for this. But, that is like rewinding a bad scene in a movie and watching it over and over again. I men
a what’s the point? And now the options for these distressed homeowners are showing themselves “true” to their options. Country Wide has a problem with doing a loan modifications (a paltry 10-15% success rate) and their investors (lender) flips out becuase it was not approved by them, and now this opens more issues in the future with other banks offering these modifications. See the article: http://www.nytimes.com/2009/08/20/business/20bofa.html

So this will certainly open a can of worms that will change the landscape for other lenders willing to do these loan mods which in return falls back on the property owner to handle what to do next. The options are tightening up and trying a Short Sale my be the best alternative before losing it to foreclosure. I have a list of options that the lender offers and why a short sale may be the best option and you get get more information at:
www.help-me-shortsales.com

Keep it short,
Mike Knows Short Sales