If you are behind on mortgage payments, and get approved for a loan modification and new payments….?
what happens with the amount you are still behind on? We are 3 months behind on payments, but say we get approved. Do we have to pay the amount we are past due on, or do they work that into the new loan agreement?
I would like to see each and every one of those liarstarred and feathered or put in shackles or some other sort of public humiliation.A lien against their earnings until at least a percentage is paid off. Own a car but defaulted on your home loan? Bus for you scooter. We’re taking your car. Big screen TV? Gone. Cellphone with all those cool web-apps? Gone. Your meals will consist of Ramen noodles and Kool-Aid until you pay off your debt.
I guess I’m just a ‘lil peeved at this whole situation and the way the scumbags who signed a loan agreement then defaulted are costing the whole country a ton of money.
I have never in my life signed a debt agreement that I did not pay back. Whether right out of college to get $ 5000 from my parents or the first time I bought a car I repay loans and consider them a must-pay debt. Spread blame where ever you would like, but the simple fact is that people KNOWINGLY took on debts they couldn’t afford to repay and they alone are responsible.