Mortgage loan modification program a failure according to the inspector general.

Early this year, a congressional oversight committee reported that the loan modification program aimed at helping distressed mortgage owners is failing. Neil Barofsky, the inspector general for the government’s bank bailouts, has labeled the record for the loan modification as “nothing short of abysmal”.  He credits the failure to the fact that regulators are afraid to rein in or impose penalties on the mortgage servicers. What was supposed to help homeowners successful go through the loan modification process has become just another failed attempt at helping homeowners save their homes.

At John Brady and Associates (California Bankruptcy Group), we constantly here from our clients their horror stories regarding their experience with their loan modification. The banks are under no obligation to help you, as they have no one overseeing them. Our offices have helped families with mortgage trouble for over 25 years. Call us for a free confidential consultation at 800-281-3733 or visit our website for more information regarding the loan modification process and how we can help you with your mortgage at California Bankruptcy Group.