In recent weeks, I have been inundated with letters from mortgage borrowers who, for any number of reasons, can no longer afford their mortgage payment, though they could afford a lower payment. They seek help on getting their mortgages modified.
I have written several articles on modifications, but, as one letter writer put it, these provide "background but are not specific enough to really help." Ouch! In this article I attempt to make amends by laying out the steps in 1-2-3 order. Because the process is tedious, I have placed some of the boring details on my Web site.