Homeowners’ response to banks’ dual track mod/foreclosure system

Homeowners are rightfully disgusted with the banksters’ loan mod / foreclosure dual track system, whereby a bank will pretend to negotiate a modification, put the homeowner on a “trial period” of 3 months, then extend the trial period to about a year, and then suddenly announce that the homeowner does not qualify for a permanent modification.  The bank will then re-start the process of negotiating for a mod, but at the same time will put the homeowner on the foreclosure track, and then foreclose behind the homeowner’s back under this loan-mod/foreclosure “dual track” system.

It’s time for the homeowners to fight back.  Clearly, the banks have much more incentive to squeeze the borrowers out of another year of payments and then take the house by foreclosure on top of that. The government’s $1000.00 “incentive” per permanent mod is laughable compared to all the incentives to foreclose.

So the way for the homeowners to fight back is to put the banks on a dual track system. It goes like this.  Homeowner will pretend to negotiate a mod just like the bank is pretending to do so.  At the same time…

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