Roanoke VA October 26, 2011 at 8:51am
Packers2011 & Estibanelpaso, it's sounds like you don't own a home and have never been laid off. If she qualified for the mortgage in the first place, then she was able to afford it. She was not living above her means. A modification was necessary when the property value dropped, due to the economy, making it impossible to sell or refinance with a conventional mortgage, due to loan to value. This affected every homeowner in America.