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Mortgage lenders don't try to rework most home loans in foreclosure because it would possibly mean losing money, a study released yesterday by the Federal Reserve Bank of Boston concludes. The Boston Fed's findings suggest the Obama administration's major effort to resolve the foreclosure crisis by giving the lending industry $75 bill to rewrite delinquent loans to more cost-effective levels is not likely to work.

US Representative Barney Frank, head of the House Financial Services committee, recounted the result of this study might provide answers as to the reasons why so few fighting house owners have been in a position to get help. 'The failure to do these alterations means the whole situation stays bad longer.'' Help is now available through non-profit companies.

According to the Office of the Comptroller of the Currency, lenders are attempting to maximize profits, and at about that point maximizing profits does not mean modifying loans. Foreclosures continue at a high rate. Houses in foreclosure now, and 250,000 new repos starting each month,' according to Valparaiso varsity law professor Alan M. White, who has studied the issue. 'They are not even making a dent,' he said about the administration's program.

The bottom line is who is going to help with your LOAN PROBLEMS ? Who can you trust not to hurt you? Are the personal corporations out there in observance of the govt or are they SCAMS? It seems the non-public sector does have solutions. Non-profit agencies have the tools to mend your problem.

You have to do your homework like never before because this is your MONEY and FUTURE and no one cares more about your MONEY than you do!

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