For the last few years, I have witnessed a steady stream of homeowners flowing through my office who are dumbfounded by their inability to get a mortgage modification. And for years, I have been telling them all the same thing:
YOUR SERVICER DOESN’T WANT TO MODIFY YOUR LOAN!
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When credit card debt goes bad, banks sometimes sell it to vulture investors at a steep discount. The vulture debt buyer then often tries to sue on the account to collect more than they paid. And their lawsuits are often the final straw forcing folks bankruptcy, where the debt buyer usually wants a share of any repayment too.
