Eighty thousand dollars is the going rate for not coming prepared. Lenders could avoid the threat of this kind of price tag if they would send the right person to negotiate mortgage modifications, someone who has authority and can get creative.
A lot of homeowners do not fight back, and lenders are not prepared to encounter a foreclosure defense. It can take them six to eight months to get the records—why? Do they have to go make them? Is the lender too busy? Do they have to Photoshop the documents?