I agree loan mod's do not work, first of all most are not "modifing the loan" what they are doing is lowering the interest rate and payment and making the rate fixed for a priod of time (2yrs, 4yrs or even 5) the majority of this loan mod's the principal still stays the same so if person owed 600K on thier home they will still owe 600K at the end of thier agreement, now what about property taxes as far as I know you can not "modify property taxes" when a lender agrees to a loan mod. they will now include an escrow account and the homeower will now have a much higher payment with a new lower interest rate, what does this mean to all of us more short sales, now one thing I have not seen discussed here is the Mortgage Relief Act this is very important to keep in mind, according to the IRS this will end on December 2010, so let's a homeower can get a loan mod in 2008 and he loss his or job in 2011 the IRS says now you will get a 1099 for difference of what you bought to what the bank took it back at, what does this mean the howeower would have been better to have completed a short sale in 2008 so that could qualify not to pay taxes on the 1099 they got.

Folks who bought at the height of the bubble when they legitimately needed a house get some relief.

I could place you an option arm program which will give you a short relief from your mortgage.

Is there any way to change the structure of this so I can get som etax relief?

In the real world though, people need debt relief and cant afford the payments anymore.

Some people even pay companies -- TimeShare Relief is one -- to take their timeshares off their hands.

It was a huge relief to see that people don’t have to have hundreds of thousands to start in this business.

When I finally walked into the title company and got a check for more money than I had made for my entire life combined, it was more about the relief from finally being done with it than a celebration of achievement.

There are even debt relief programs(falsely named) that will give a second mortgage up to 125% of the appraised value.

I just breathed a large sigh of relief on reading your reply to my post.