Hundreds of Thousands of Americans are seeking a modification of their home mortgages. I have heard from more than 100 of them and most are frustrated and angry.

They have listen to President Obama tell them they can qualify for his special programs and they don't need a lawyer to contact the banks for them, he says just contact the banks yourself.

The problem is the banks do NOT want to talk to homeowners about modifying their home mortgages. Why should the banks want to modify the loans, they are making high interest rates on them now and they can barrow the money from the Federal Reserve at 0 or .25 percent. So if homeowners are paying 8 to 9 or even 10 percent why would the banks want to lower it to 4.80 percent, the current rate.

Because the President called the CEO's of some of the big banks into his White House Office they are now starting to talk with homeowners, but now they want all your documents. This can take you weeks to get all the documents that they want.

I have received letters telling me that the banks then take months to get back to you and when you call them they say, we lost your documents can you resend them.

The banks and mortgage company's are just giving the homeowners a runaround and ignoring President Obama's modification plans.

Remember these are the same banks that got Billions of Dollars in bailout money from the taxpayers, and now some want more stimulation money.

There have been Law Firms that have been successfully modifying mortgages and the Federal Trade Commission has thrown out a net and said these firms are rip-offs. The banks are cheering this action by the Feds. The FTC says Lucas Law Firm is part of major a scam to take money and do nothing for the homeowners. The FTC has shut down the Lucas Law Firm and other attorneys with Temporary Restraining Orders. The FTC says they have seven complaints out of the firms 2,400 clients. Attorney Paul Lucas says they have modified four of the mortgages of the seven complaints, and two more they have returned all of their money because the banks refuse to modify their mortgages. There is one fee complaint. Lucas says this client did not tell them that she had tried to modify with another company and the bank turned her down.  Lucas says they spent time and money dealing with the bank and then found out that the bank had turned her down and would not reconsider for a period of time. Lucas says they are keeping some of the money for their work.

After three Federal Court Hearings the Lucas Law Firm has not been able to present evidence that they have successfully modified over 500 mortgages.

The Lucas Law Firm Clients have been left with no representation because of the actions of the FTC that is supposed to protect the mortgage holders.

The banks are still telling mortgage holders who are up-to-date with their mortgages that they will not talk to them until they are five payments behind. But, when they get that far behind the bank will demand fees and a lump settlement or they will foreclosure on their homes. This is happening right now.

The reason I know about the Lucas Law Firm is because I had to vet them to be one of my radio and TV sponsors. I personally talked to the homeowners who they helped and I interviewed them on TV.