Q: I worked with an attorney and applied for a loan modification. After about six months of making no payments, the bank gave me a three-month trial modification with a lower payment under the Making Home Affordable program. I made all three payments on time, and have continued to make the reduced payment for the four months since the trial modification ended. I have called the bank dozens of times over the last four months, and they kept saying that the modification was still being reviewed. I just got a letter in the mail saying that the modification was declined because my "income documentation was insufficient"! What do I do now? A: You are experiencing what literally millions of other American homeowners are currently going through: the drawn-out suspense of waiting to get a loan modification, and the letdown when it doesn't happen as you were led to expect it would. While the Making Home Affordable Plan was promising at the outset, unfortunately it has n...
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