Need a loan mod and chapter 7

[IBroke]

The FACT is, most troubled loans are not getting modified.

Show me where I stated the opposite. That is indeed a fact. Just like the FACT that the phrase "most" has a different meaning than "all". Foreclosure is not the preferred solution for the bank, but to modify a loan, certain conditions have to apply that it makes sense. We discussed that before (NPV?). If somebody loses his job and has no income, a modification makes no senses and he will be foreclosed on. However, that does not mean that the bank preferred that over a modification.

I didn't read anything else from your replies, couldn't get past the blah blah blah blah blah blah blah....

I feel sorry for you that you were unable to read much out of my posts. Sometimes, it's just a lack of attitude and focus rather than something more serious. Maybe you want to give it another try. I'm sure it will work out one day.

But after all, that's not my problem. I'm sure my posts delivered valuable information to other users who are on this board (who actually are "hereforinfo" rather than to "spreadwrongfacts") and if I could help just one single individual, it was well worth it.

The guidelines I quoted are directly from the gov and Freddie Mac web sites.

Like the 2% interest-rate that is fixed for 30 years?

But I guess THAT was blah, blah, blah...

[hereforinfo]

The 2% interest was an example I used, not a stated guideline. Your posts are inconsistent and full of crap. You don't like what I have to say because it's not what you want to hear. Good luck making those mortgage payments!

[IBroke]

The 2% interest was an example I used, not a stated guideline.

You used this "example" to compare the financial perspective of a lender between HAMP and foreclosure. This is ONLY possible when you are applying the HAMP guidelines. You can't create your own HAMP-numbers.

If you weren't talking about the HAMP-guidelines, maybe you would be so kind to enlighten us where you can obtain a 30 year mortgage with a fixed interest rate of 2%. In case you aren't able to do so, may I ask you for the PURPOSE of your "example"?

When I'm comparing profits, I have to base my determination on realistic numbers and not on made up "examples" that simply aren't available.

[Flamingo]

This thread is being closed since has run its course and has become a personal disagreement amongst posters totally taking the thread away from the OP.