Loan modifications don’t always stop foreclosure

LAKEWOOD, Colo. — Imagine modifying your home loan only to have your house taken from you three months later.

That’s the reality for one Arvada family.

After the modification, Bank of America sent them a letter saying the bank had bought the home back and they were being evicted.

So where was the breakdown?

“A lot of homeowners are under impression that if they have a trial modification they are eligible for a permanent modification, but that’s not always the case,”

Read more from the Denver Channel

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