Family of bedridden former West Covina police officer about to be evicted from home
SGVTribune
By Bethania Palma Markus
...Richard Green, director of USC Lusk Center for Real Estate, said loan modification legislation and programs have been toothless.
"Some lenders have been held accountable in the sense that they've gone out of business, but it seems that borrowers are being held more accountable than lenders are," Green said.
While the Obama Administration spent billions on the Home Affordable Modification Program, Green said it's been a disappointment.
"Nobody's requiring anything from financial institutions, they're trying to incentivize financial institutions," he said. "The only way they're going to change is for regulators to ask them to change."
But that's unlikely to happen anytime soon, he added...