Reply #23: I think he is talking about a problem with how you get to that point [View All]

[bhikkhu]

As I understand it (and I have looked into for my own circumstances), in order to be eligible for consideration you have to more or less default on your home loan, or at least fall a couple of months behind on the payments. I would be one of those managing ok, but it would be in my interests to stop making payments simply in order to qualify for loan modification.

Of course bankers don't want a program that rewards people for defaulting on their loans, which they probably do view as an issue of "morality".