When the recession hit, many homeowners across the country were left scrambling to find a way to reduce debt and try to keep their homes. One way of keeping a home during the recession was to seek a mortgage modification. While mortgage modifications helped countless Florida homeowners and others across the country, some mortgage companies acted negligently. One company has been made to pay for the fraud they apparently committed against one homeowner.
The homeowner started experiencing trouble in 2010. He sought and got an agreement for a mortgage modification. According to the homeowner, his payments were to go from $2,100 a month for his mortgage to $1,500 a month.