For two years, Barry Lancett’s effort to get a loan modification from Wachovia, then Wells Fargo, has consumed him.
The 55-year-old father of two physically shakes when he discusses his case and says the effort has distracted him when he should be focused on his job. In his crusade, he has accumulated mounds of paperwork and saved numerous recordings of his conversations with bank representatives.
His ordeal, which follows the arc of the housing boom, shows how complicated modification efforts can become – and how they can be trumped by foreclosure proceedings.