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First Franklin Corporation
Pitfalls of trying mortgage restructuring

Ray Rodriguez's mortgage bank told him in March he's eligible for a government-supported mortgage loan restructuring that would make his monthly mortgage payments affordable, clear his loan's delinquent status and let him keep his family in their home. "They told us they would call us and give us three offers," Rodriguez said of the first bank. "They never called us." Instead, he's heard from his bank that the house will be sold by the middle of this month. Since March, when he spoke to a representative of the original bank, First Franklin Loan Services, his mortgage passed through the hands of a second bank and now rests with a third, Bank of...

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