I have not been blogging much, first because of snow days and Holidays, and then January began. There is a new note of desperation in the voices of the calls that are coming in. Clearly, fear is setting in for many people struggling with debt. The overwhelmingly bad economic news is not helping, either. And it seems obvious to us all that it is not likely to get better any time soon.

There is also hope in the air, as we count the days to the new administration taking office. But we all know that nothing can change overnight.

We have been trying to help our clients get mortgage modifications, but we are finding it to be virtually impossible. Almost every call we make results in a different answer after holding and waiting for a very long time. As far as I know, our office has not had one successful loan modification yet.

For that reason, I am hoping that the new Congress will quickly enact bankruptcy legislation that will allow people to modify their mortgages upon bankruptcy court order in a Chapter 13. Here in Seattle, we have great bankruptcy court judges who have the skill and the sense to help us get through these problems. And so, we wait and we hope, and we try to help our clients and prospective clients stay calm in the meantime.