Not only that, 91 of the loans have already received a modification that included debt forgiveness — though many early modifications were unsustainable.
"The question is one of fairness, who should receive a modification and who should not," said Jim Mahoney, a spokesman for the bank.
You may be able to receive a modification of your loan to lower your principal, which would reduce your monthly payments.
Carol Yopp, the foreclosure prevention program manager for the Long Island Housing Partnership, said many of the homeowners who attended had previously received a modification and were "now out of work and facing another crisis".
"Unfortunately, there are still too many people, despite litigation, being foreclosed from their homes unnecessarily, when they're entitled to, and should have received, a modification," Fluker said.
Eligibility for borrowers who received a modification under HAMP Tier 1. Borrowers who weren't successful with a HAMP 1 trial payment plan are eligible to apply for HAMP 2 modification, as long as 12 months have passed.
Counts, who is partially paralyzed due to a stroke she suffered several years ago, sought and received a modification in 2009 on what her lawyer, Vanessa Fluker, called a "predatory subprime loan" from Washington Mutual.
An unpublished study by the Furman Center for Real Estate Policy from April 2011 found that borrowers who had received counseling in New York City were about 30percentt more likely to receive a modification than homeowners who had not consulted a counselor.
Chrysippus preferred to regard it as an alteration or change in the soul; that is, the soul receives a modification from every external object that acts upon it, just as the air receives countless strokes when many people are speaking at once.
