The following scenario is unfortunately common for people in foreclosure: Homeowners experience a financial hardship, default on their mortgage, and the lending bank files a lawsuit. Then the homeowners’ situation improves and they apply for a loan “modification,” which basically just allows people to restart their mortgage payments and keep their homes. The homeowners repeatedly apply but never have their applications even reviewed. They are given various explanations from someone in a call center in another country: The homeowners did not submit certain documents; the homeowners earn too little money; another representative contrarily says the homeowners make too much money to qualify.
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