Loan Modification

I think, we the people, can make a difference… we have to recognize when something is waddling and quacking it’s a duck. I believe we can make an impact to help America but we have to discuss it and then do something.

What do you think?

Are lenders really helping those in need with actual loan modifications to save them from foreclosure or are they just looking for a new refinance loan?

In the past year I have talked with many individuals who really needed the bail out funds to reduce their mortgage payments to stay in their homes. Absolutely none of them have been helped and some have been working for six months or longer to try and get someone at the mortgage company to work with them. Others have given up and let the home go into foreclosure.

Some lenders are talking about not accepting the bail out funds as they don’t want to be told what to do with the money.

What about the people? What about the human beings who are caught in the middle of an investment bubble that burst, jobs being lost and foreclosures are setting the real estate market values. The foreclosure values are decreasing existing home values well below the loan balance in many cases?

Is there a group of individuals ready to stand up and say something needs to be done? The voice of those in need is muted by discouragement and they need our help.

A few ideas to start the discussion include:
Calling your Congress person and explaining the paper trail of attempting to modify and existing loan.
Contacting an attorney to represent the borrower for a loan modification with the lender.
Contacting Freddie Mac or Fannie Mae to describe the process and see if they can intervene.

Let’s discuss the problems people are having trying to get a loan modification and share some possible solutions.

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About Carra Riley

Fun loving classic writer who is a life long learner. Helping people connect the dots as a consultant for small business and real estate along with custom workshops and seminars.

Comments

  1. Hi,

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    http://www.foreclosu-re.info