So what’s happening in 2012 as far as the loan modifications with the banks? Are they more flexible? What is this current status?

Loan modifications are not working. Very few people are getting loan modifications and even when they get them, the payments are so high that people default within a few months. Again, you’re taking a chance. I would say you should apply for a loan modification as a delay tactic so that they can delay your foreclosure or they can delay the foreclosure or filing the foreclosure case against you. But if you’re depending on them giving you a good loan modification, it doesn’t happen many times. In the past 7 years, I have seen about 3 clients who have got principal reduction and that’s a very small percentage. I have some clients that have got loan modifications but they were not always affordable. So loan modifications are difficult to get, and even when you get them they are not affordable. Bank of America is probably the worst bank to deal with. They will just give you the run around for the next 8 months and then say, “Oh, we cannot approve your loan modification application.”