The sickness of a system that gives every advantage to the profiteers off of the unfortunate victims cannot be overemphasized. While all of us want to make a profit, only the psychosomatically disordered really want to make it by ruining investors, even to the global level they’ve reached now. We all have a very great interest in putting back into place the regulations that prevent the criminal element from the favoritism shown under existing law.

“Break in chain of title” may make foreclosed houses unsellable. Karmic justice for those banks who COULD have done good faith modifications, and chose to throw people out of their houses instead.

Can any sentiant being continue to make the argumet that HAMP is a worthwhile program?

Today, the Comptroller of the City of New York along with the presidents of several large unions sent a letter to some of the biggest baddest banks in the foreclosure mess and told those banks to get their acts together and start making mortgage modifications.

Bill collectors are NOT social workers, debt counselors or consumer advocates. They are bill collectors, they will eat you. Oh, they may call themselves “mortgage servicers”, but what does that mean? It means they collect the money from the homeowners.

The Net Present Value test will determine whether or not you get a permanent loan modification under the Home Affordable Modification Program (HAMP). It’s up to you to fight to be sure that test is applied fairly and correctly.

HAMP (Home Affordable Modification Program) is rather complicated, so I’m going to break it up into three posts to try to create manageable, digestible bites to explain the program.