Some help!

"lenders were more likely to offer a modified loan that resulted in a higher, not lower, monthly payment"

I may not be able to offer much commentary, readers, I am so pissed off!!

"Reworked mortgages not working; Even after help, homeowners end up back in default" by Jenifer B. McKim, Globe Staff | December 9, 2008 More than half of delinquent borrowers who had their mortgages reworked earlier this year to avoid foreclosure were behind on their new loan payments after just six months, a federal regulator said yesterday.
John C. Dugan, US comptroller of the currency, told a housing forum yesterday that data his agency is collecting show the increase in repeat defaults by homeowners is "remarkably high."
"Put simply, it shows that over half of the loan modifications seemed not to be working after six months," Dugan said.
The findings raise several major questions for government and lending industry executives as they struggle for a fix to the nation's foreclosure crisis: Are lenders not doing enough to modify loans so delinquent borrowers can afford them? Or, are too many borrowers just not cut out to be homeowners and shouldn't be bailed out of their debts?

Are you KIDDING ME? Yup, EVERY CORPORATION UNDER the SUN is getting a bailout, but YOUR PROBLEMS are YOUR FAULT, homeowner!!! How many times you gonna TAKE BEING SHAT ON by BANKS, Amurka?!!

Dugan said his agency is asking lenders and their representatives why these redefault rates are so high. But many housing advocates and industry specialists said they already know: Lenders are failing to give troubled homeowners affordable long-term fixes. In fact, lenders were more likely to offer a modified loan that resulted in a higher, not lower, monthly payment, according to a recent report by analysts at the financial services company Credit Suisse.
Ask LaWanda Fils. This single mother was behind on payments on her Dorchester two-family home when she asked for help from her lender, Option One Mortgage Corp. The solution Option One offered didn't seem to make sense - she would pay $800 a month more, after rolling in past-due principal, taxes, and insurance. Desperate to save her home, Fils agreed to the deal anyway in February.
Two months later, she defaulted and now is again facing foreclosure. "I think it is more for them to pat themselves on the back to say at least they tried," said Fils. "It's not feasible and it doesn't work and they end up having people falling behind."
Option One declined to comment.
Loan modifications can take several forms. Lenders can either reduce the mortgage's interest rate, which results in a lower payment; they can write off some of the unpaid principal, which could either lower monthly payments or lower overall debt; or they could postpone some of the debt or extend the life of the loan, which may lower payments in the short term, but drive costs over the life of the loan higher.

Translation: Either way, the BANKS MAKE OUT and YOU are FUCKED, 'murkn!

A loan modification can result in a higher payment if lenders roll back into the note unpaid principal, as well as interest and escrowed taxes, according to Faith Schwartz, executive director of Hope Now, a private sector alliance of mortgage servicers, counselors, and investors that is coordinating loan modifications.
"They tried to help them, but they could have foreclosed as the alternative," Schwartz said. She added lenders should examine the federal data to see which approach works and which doesn't. "It doesn't mean they didn't get a lower rate."
Even some professionals in the lending industry are mystified at why so many companies are charging delinquent borrowers more in a modified loan when they clearly could not afford the original, lower amount.
"I don't know why a lender would enter into that kind of agreement knowing what the outcome would be," said Kevin Cuff, executive director of the Massachusetts Mortgage Bankers Association. "Why would it not go into foreclosure? Why would it not fail?"
Umm, it was DESIGNED TO FAIL!! Please GET a CLUE, AmeriKa!!!!



Other specialists said the problem is as much the homeowners. Paul Willen, an analyst for the Federal Reserve Bank of Boston, said too many borrowers simply cannot afford to own their homes.

Oh, I see: it is YOUR FAULT, homeowners!

"Many of the people in the foreclosure process are in deep, deep trouble. They are not a modified loan away from financial happiness," said Willen. "Many people who are heading into foreclosure don't need a modification, they need an exit strategy."

How about the government take the other $350 BILLION and PAY OFF EVERYONE'S MORTGAGES!!! How about that "exit strategy.

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Leading epilepsy specialists met at the American Epilepsy Society annual meeting in Seattle to unveil a recently published consensus report that proposes minimum standards of care for diagnosing, treating and monitoring epilepsy. Primary among these is the need for a detailed medical history, neurological examination, discussions with caregivers and diagnostic tests to make a diagnosis, as well as the need to weigh seizure control, side effects and long-term safety when making treatment decisions.



The number of specialized epilepsy centers in the United States is limited, so many of the 2.7 million Americans with epilepsy are managed in a community setting. "This sometimes poses problems with delayed recognition and inadequate treatment, which can result in subsequent seizures, and related complications," said Tracy Glauser, MD, lead author of the report and professor of Pediatrics and Neurology, Cincinnati Children's Hospital Medical Center.



To develop consensus (defined as 50%) on the core elements of epilepsy management, members of the Leadership in Epilepsy, Advocacy and Development (LEAD) group, a coalition of 28 nationally recognized neurologists, pediatric neurologists and epileptologists, completed a detailed survey on the areas of diagnosis, treatment decisions and lifetime monitoring of epilepsy patients. "In the absence of universally accepted standards for the diagnosis and management of patients with epilepsy, our goal was to set standards to be used to improve consistency and quality of epilepsy care across all settings," Dr. Glauser said.



Diagnosis



Consensus was reached regarding the need to obtain basic information about the patient and their seizures and to perform the diagnostic tests necessary to make a diagnosis. A core list of questions was established to assess seizures, which includes questions to determine if there were warnings prior to the seizure, seizure triggers, what happened during the seizure and timing of the seizure. Physicians should also explore personal seizure history, medical history, social history and risk factors. In addition, neurological signs and symptoms, including memory problems, headache, lethargy and tremors should be assessed. Discussion with a patient's family or caregivers was also considered essential for accurate diagnosis. Finally, physicians should employ electroencephalogram (EEG) and magnetic resonance imaging (MRI). If these minimum standards are followed, consensus was reached that the categories of seizure that would be most accurately diagnosed include: absence, partial-onset, generalized and myoclonic.



Treatment



The overriding objective of epilepsy treatment is to achieve complete control of seizures, allowing the patient to maintain a normal life, with minimal or limited adverse drug effects. Consensus is that antiepileptic drug (AED) treatment should be initiated after two seizures. Currently, AED therapy is the initial treatment of choice for most patients, and, in general, long-term seizure freedom can be achieved by approximately 50 percent of patients with initial monotherapy. Several areas should be considered when selecting the appropriate AED therapy, including seizure type, co-existing conditions, and drug-drug interactions. Adverse events and tolerability should be carefully monitored and changes made when appropriate.



When patients are considered refractory or when their treatment has failed (the failure of two or more AEDs), physicians should refer patients to an epilepsy specialist. Ketogenic diet should be considered as a treatment option in pediatric patients after the failure of two to three or more medications or in cases of intractable seizures, but only if the family is committed to following the plan and other appropriate treatments have failed.



Monitoring



Periodic evaluations to assess seizure frequency are necessary and monitoring for adverse events and tolerability should occur at each visit. Common adverse events to look for include: cognitive slowing or difficulty concentrating, skin and hair changes, emotional or mood changes, ataxia, diplopia, drowsiness, fatigue and weight change.



While undergoing AED therapy, clinicians should be prepared to counsel patients regarding adverse events, co-existing conditions, driving, medication adherence, plan for seizure emergencies, bone health, safety during recreational activities, seizure frequency, drug-drug interactions, cognition, sleep problems, occupational considerations, behavioral issues and effects and limits of physical activity.





Article adapted by Medical News Today from original press release.





The publication of these consensus views is sponsored by Ortho-McNeil Neurologics, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc. The members of the LEAD faculty have all received honoraria from Ortho-McNeil Neurologics. The final questionnaire developed by the LEAD faculty review process was reviewed by the corporate sponsor. The consensus results were tabulated with assistance from Health Learning Systems and the data analysis was conducted independently by members of the LEAD faculty. Editorial support and preparation of an initial draft of these consensus findings was provided by Health Learning Systems, and Ortho-McNeil Neurologics reviewed the final manuscript submitted by the LEAD authors. The report was published in Current Medical Research and Opinion Journal in November, 2008. To view the full report, visit http://www.informapharmascience.com.



Ortho-McNeil Neurologics



Headquartered in Titusville, N.J., Ortho-McNeil Neurologics, Division of Ortho-McNeil-Janssen Pharmaceuticals, Inc, focuses exclusively on providing solutions that improve neurological health. The company currently markets products for Alzheimer's disease, epilepsy, and acute and preventive migraine treatment. Ortho-McNeil Neurologics, in conjunction with internal and external research partners, continues to explore new opportunities to develop solutions for unmet healthcare needs in neurology. For more information, visit http://www.OrthoMcNeilNeurologics.com.

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