Nathan Reynolds is something of an expert on the government's foreclosure prevention program. A mortgage broker who's worked in the Chicago area since 1998, he's seen both his business and his home's value plummet in the past few years. After receiving his own trial loan modification from JPMorgan Chase, he's helped others apply for modifications through the program on his own time.
But in November, after Reynolds had made trial loan payments for seven months, Chase told him his mortgage would not be permanently modified. Chase had determined that his personal financial troubles were only temporary -- because Reynolds had expressed optimism that the administration's policies might rescue the housing market, boosting his income.
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