The banks just want to take your house...NOT! Answers to questions that people are asking www.fac5.com

Does the Bank want your home?

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Lets think about the statement, “Does the bank want your home?”  I will get back to that in a moment.  Keep in mind, housing prices on the downswing, all those wonderful sub prime loans that are adjusting or defaulting, an already failing government bailout home saver program, I would say that the banks just want their money.

In a nutshell banks are in the business of loaning money not owning property.  Your home, when owned by the bank is an unserviceable debt.  My reaction to the increasingly pressed financial market is that there has got to be a way to do something. 

Loan modification just might be a fourth quarter halleluiah pitch to the end zone.  My hope is there will be someone there to receive it.  A loan modification is a negotiation between a lender and a borrower in order to restructure a mortgage in such a way that the homeowner can stay in their home, without refinancing.

Click here to find out what we are doing to help an estimated 1.2 million home-owners in risk of foreclosure to navigate this new territory of loan modifications.