The Real Deal Miami

Why mortgage mods are hard to obtain

September 16, 2009 05:40PM

Jennifer Sinton, deputy director of the Foreclosure Prevention Project for South Brooklyn Legal Services, and Judy Bruskowitz, certified loan counselor with New Jersey Citizen action, spoke to WNYC’s Brian Lehrer about why mortgage modifications are so hard to get. Only 12 percent of homeowners eligible for mortgage modifications had gotten them as of August. Many homeowners who have submitted modification applications are seeing their applications denied for unclear reasons, Sinton said. Other homeowners will eventually see their mortgages modified, but the process is lengthy and the courts are inundated with cases, Bruskowitz said. The show was inundated with callers looking for advice about their mortgage problems.