Comments on: Bake Sale Helps Mom Save New Jersey Home

By: Carol

Carol — Thu, 30 Jul 2009 18:04:03 +0000

Herman, all modifications are different. And different lenders may have different criteria. The article from the Wall Street Journal no doubt was lacking in detail. Their angle was more the human interest piece of the story. It is possible she did not need the $20,000 for her lender – directly. Sometimes borrowers don’t qualify for a modification because they have too much other debt. So they need to pay down debt such as credit cards in order to get the bank to okay the loan modification. This is just an example.

By: Herman

Herman — Thu, 30 Jul 2009 15:05:58 +0000

saw her on tv too. always good to hear happy ending stories. but i was confused why homeowner behind with the mortgage needs so much money to do a modification. she needed $20,000? i thought a modification was for people who got behind because they don’t have the money.

Herman G

By: Carol

Carol — Wed, 29 Jul 2009 17:15:35 +0000

Thanks for the info J.L. In my write-up, I actually gave credit for that story to the Wall Street Journal. The content/story is theirs.

I am not surprised to hear the angle of the story was changed when the media got wind of it. I guess they thought it made for a better story.

Still a wonderful thing to hear. I recently saw her on The Today Show (I think that’s what I was watching).

Hope she finds great success.

By: J.L.

J.L. — Tue, 28 Jul 2009 02:46:04 +0000

Angela Logan never advertised her plight, or sought publicity. The Bergen Record reporter who broke the story learned of Angela’s plight from a friend who also is a friend of Angela’s.