Do you have to Sue to move Forward with Loan Modifications?

Friday, August 7th, 2009 Loan Modification Trends by callender.john

It was busy yesterday at the Boston Globe.  It seems that the only way to get the attention of Banks is to sue them.  Let us hope we don’t have to go to this extent.

The suits are being watched locally and nationally because, if successful, they would provide strength to advocates and litigators struggling to make lenders accountable for “toxic’’ mortgage loans that have pushed millions of Americans into foreclosure.

Guy Cecala, publisher of the Maryland-based industry newsletter Inside Mortgage Finance, said a growing number of lawsuits against lenders are like those filed by smokers who claimed cigarette companies knew their products were cancerous.

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