BUSINESS
11/15/2009 05:12 am ET Updated May 25, 2011

Mortgage Modifications Are Increasing Payments, Fees For Some Homeowners

Tens of thousands of financially strapped homeowners who have asked lenders to lower their mortgage payments are instead winding up with higher monthly payments and larger debts on their homes.

Homeowners who were hoping for lower payments are discovering to their dismay that lenders roll late fees, back taxes or other costs into the principal, sometimes turning a difficult payment into an impossible one.

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