Matchmaker To Link Victims Of Foreclosing Lenders' Loan Modification Jerk-Arounds With Reporters Looking To Cover These Stories

ProPublica reports:

• Millions of homeowners face losing their homes in the continuing foreclosure crisis, but homeowners often have more than the struggling economy and slumping house prices to worry about: Disorganization within the big banks that service mortgages has made a bad problem worse.

• Sometimes the communication breakdown within the banks is so complete that it leads to premature or mistaken foreclosures. Some homeowners, with the help of an attorney or housing counselor, have eventually been able to reverse a foreclosure. Others have lost their homes.

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• The problems happen even among servicers participating in the administration’s $75 billion foreclosure-prevention program. Servicers operating under the year-old program are forbidden from auctioning someone’s home while a modification decision is pending. It happens anyway.

For more, see Disorganization at Banks Causing Mistaken Foreclosures.

ProPublica reports that it is matching local journalists around the country with homeowners having trouble getting loan mods.

• Go here if you are a homeowner with a story to tell.
• Go here if you are a reporter and want to cover it.