Why mods don't happen?

The government has a 75 billion dollar program to help bank modify mortgages. They were hoping by now to have some 3-4 million people in the program, so far, they've got about 180,000. Turns out, the problem isn't on the government end, it's that the banks collect a ton of fees dragging your home into foreclosure so it's in their interest to drag the process out as long as possible.

Great story in the New York Times about the issue. To read it, click HERE