EXCERPT from middle of one of teh most brilliant posts I've recently read: THANKS TIM!!!
LOAN MODIFICATIONS: IS THIS WHAT I’M SUPPOSED TO BELIEVE?? | Timothymccandless's Weblog: "Banks, on the other hand, have plenty of lawyers, mortgage experts, credit specialists, underwriters, and professional negotiators.
You, however, should come alone.
Who says you should come alone? The banks say so, that’s who.
The banks are looking out for you. The banks are going to help you. The banks are on your side. You can trust the banks.
The same banks that put you into mortgages where the payments double as soon as the prepayment penalty period ends.
The same banks that blame you, the borrowers, for the meltdown, and have already foreclosed on millions of homes.
The same banks that just lobbied congress to kill the bankruptcy reform bill that would have allowed judges to modify mortgages in bankruptcy so that people going bankrupt could have a chance to keep their homes.
The same banks that just lobbied congress asking for a top allowable interest rate of 500%, and got 390%, while they charge you 29% on your credit card.
The same banks that fraudulently packaged mortgage backed securities as AAA rated bonds >>>>>>>KEEP READING BY CLICKING ON TITLE LINK UPTOP!
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