Executives at Chase and Bank of America say they are struggling to get homeowners to complete the necessary paperwork for the Obama administration’s Making Home Affordable Loan Modification Plan. These banks are claiming that only a small percentage of homeowners have completed the process.
“There is great frustration at the failure of the government to come to grips with the foreclosure issue,” committee chairman Barney Frank of Massachusetts said at the start of a lengthy hearing that also heard representatives from banks and regulatory agencies.
homeowners are getting the paperwork together. That is the banks excuse to stall and deny loan mods; rather foreclose and make more fees. win for the banks. they are lying to the President and administration, Give them the poly test! that will shut them up. they blame the govt they blame the homeowners.