I bristled, but not for the insult.
I bristled for the whopper opposing counsel was trying to feed me.
Lenders don’t reject loan mod applications because the borrower is current, he said. You know that’s not true, don’t you?
You expect me to believe that?
You might gull me if I’d only heard it once.
But I’ve heard it twice a week for nearly 5 years from clients of all sorts.
Clients report, again and again, that servicers won’t favorably consider a loan for modification if it’s current.
So, I have to wonder: was the attorney on the other end of the phone just that naive, or is this a part of a propaganda offensive on the part of the servicers and their bankruptcy lawyers.
Let’s talk about this:
- What has been the experience of your clients?
- Are you seeing modifications of loans that are current?
- Have you heard the claim that servicers don’t tell loan mod applicants to default?
- Have the rules on this issue changed over the recent past?
Or, as opposing counsel says, are all of our clients liars?
Image courtesy of Flickr and Mykl Roventine.