Well, because the mortgage companies think they can make more money by foreclosing on you.
Seems they are as good at calculating that as they were in deciding who would get mortgage money.
The “secret” government formula does explain why it is impossible to predict who will get a modification and who will not, as there is no rhyme nor reason, as Alexandra Andrews and Emily Witt report in the blog post linked to below.
Why Can’t I Get A Mortgage Modification?
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