National news stations, financial advisors, mortgage and real estate professionals and even the president has urged the public to look into loan modification and mortgage restructuring.  And here is why...

Millions of Americans have been victim to predatory lending
-New York Times 9/9/09

Unemployment is nearing 10%, with states like Oregon and Michigan hit hardest
-US Dept. of Labor

Companies like Bank of America only modify 4% of all homeowners whom apply for modification
-Alexandra Andrews, Financial Advisor
 
"Loan modifications are not profiable for lenders, the failure to do modifications means the whole situation stays bad longer"
- Barney Frank, House Financial Committee

It often takes lenders so long to porvide any type of modification that homeowners are often too delinquent that they still lose the home to forclosure
-Wall Street Journal

"Abusive lending practices that target vulnerable segments of the population and can result in unaffordable payments, equity stripping, and forclosure."
- Alan Greenspan

BUT, THERE IS HOPE

"A modification is a permanent change in the mortagers loan, and results ina  payment the mortgager can afford"
- U.S. Dept. of Housing and Urban Development