Actually, moe most people do not get modifications (permanent or otherwise) becuase they are too lazy or stupid to turn in the necessary paperwork.
“Most” ??
If that were true how is it “most” navigated their way through the original first, second, and sometimes, third mortgage docs, but all of a sudden become mystified at a simple mod request form?
The truth is the required steps to request a mod are very simple. And that’s a good thing, because nearly every single applicant will repeat the process numerous times when the banks “lose” them.