Since the banks are having so much trouble handling loan modifications lawmakers are looking for ways to force banks to give out loan modifications to people who deserve them. Whether this is right or wrong is the topic of a hot debate.
Lets face it, when you take a look at what NACA (Neighborhood Assistance Corporation of America) is doing around the country its not hard to see that when banks are pressed they are able to get the job done. Why don't they just do what they will eventually have to do anyway instead of dragging their feet? It will be cheaper for the taxpayers but I guess that doesn't really concern them.
Joesph, this foot dragging and not taking the higher road seems to contribute to the bad reputation of banks
I agree with Janice. Really seems like underwriters are on a witch hunt with every deal and instead of looking for fixes, actually look for ways to stop the deal.