Is Obama legislation being ignored by mortgage lenders? »
Posted By altnrg 2 months ago in News
As the number of foreclosure filings continue to rise to unprecedented levels it is hard to believe that President Obama’s recent legislation is being heeded by lenders. The Helping Families Save Their Homes Act of 2009 signed into law in June this year was seen as a lifeline for homeowners who face foreclosure or who have seen mortgage payments rise dramatically as Option ARM’s kick in.
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bubba22 months ago
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Yes, that legislation is being ignored.
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I know 2 homeowners who have been out of work and have been trying for OVER 4 MONTHS to get their mortgage companies to do loan modification. Instead, they have been threatened with foreclosure, told to short-sell their house and get an apartment, told that they can't get ANY loan 'help' because they are out of work (duh!), and more.
It is beyond ridiculous - the mortgage companies are BLATANTLY ignoring the Helping Families Save Their Homes Act of 2009. They would rather THROW OUT the owners and have empty houses than work with the owners to keep money (payments) coming in TO them! -
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tehranchik2 months ago
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From another story:
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"Public money is being used to bail out banks and wage foreign wars while the recession continues to destroy jobs and drive down wages. This unpopular policy is viewed as a necessity for U.S. corporations, and Obama has no intention of reversing course." -
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fritz10212 months ago
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Do you believe that Wall Street & their Banks are going to do anything to help the American People.Have you seen anyone doing anything to help the average home owner who is in trouble.And your not going to see it banks could care less their not going to help their is no profit in helping you and its all about PROFIT.
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Banks are not their to server you their their to make money and lots of it. -
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