A bank decides to push through a loan modification to lower a struggling homeowner’s mortgage payments. Sounds good, right? Yes, in theory. But there can be adverse affects.
Wells Fargo is once again under serious fire for submitting unauthorized changes to mortgages for homeowners in bankruptcy. We’ve been speaking with clients about home loans and modifications, and this recent news sparked the idea for out latest post about suspicious practices that banks can take to elicit money under the guise of good will.