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Just had my first success today in a post modification foreclosure action. Client had a temporary modification of his mortgage made all the payments and at the end got a summons for foreclosure. I filed an answer saying there was no actual default and today the attorney for the mortgage bank withdrew the action.

I will be on Channel 13 tomorrow morning May 22, 2010 sometime after 7:30 am to talk about foreclosures.
As a preview foreclosures are up this year in New York State about 11% and they are up in the Capital Region, but still well below the national average. The problem is that default rates are not running so far below the national figures. So expect foreclosure to go up locally even if they come down on a national basis.

I keep hearing commercials for mortgage loan modifications. I am wondering if there is anyone who has used one of these firms or companies who would share their experience with me. I have had some success with these modifications, but they are very unpredictable so I wonder how these firms can advertize that they can get results.