Many people facing foreclosure have successfully made the trial mortgage modification payments required of them, but they’ve been unable to get their banks to make the modifications permanent. For example, California homeowner Marvin Galvin and family made 14 monthly trial payments to JPMorgan Chase, totaling some $30,000, before receiving notice last week that their house would be sold in foreclosure. The sale is set for Jan. 7 Here’s a closer look at their stories, which share key features, and at some of the obstacles — beyond too few competent staff at the banks — to getting successful trial modifications converted.
Why making trial mortgage modifications permanent is so difficult
Most Popular Articles
Latest Articles
Special report: The brokerages gaining or losing market share in Dallas
Few cities have benefited as much from the trend of Americans moving south as Dallas, which added 170,000 residents in 2021 and 2022.
-
Technology’s role in rental property investment market
-
Best real estate continuing education schools for quick and easy license renewal in 2024
-
CoStar Group finds success through the sale of Homes.com memberships
-
Kevin Sears pulls back the curtain on NAR’s commission lawsuit settlement
-
A look back at HousingWire’s 2023 Marketing Leaders