Is it true that people will only get borrowers assistance if they actually STOP making mortgage payments?

Grudun answered one year ago …

Yes and no. Borrowers can get assitance if they are keeping up with their payments however they face much higher standards if they can get anyone to talk to them. Right now all the bank groups that handle loan modification are swamped so they are prioritizing. First are the loans about to result in immediate forclosure, then those who are behind on their payments based on how far behind they are(farther behind first) and finally people who haven't missed a payment yet. And the banks are hoping that if you have been able to make payments this long maybe you will be able to continue.