Sometimes I wonder how many billions of mortgages are active in this country, and how did these companies manage to keep track of them all before computers? It seems that many checks and balances are in place, although there is always room for improvement in some areas. Anyone that's been working short sales knows that. It's a massive operation, and it takes time, money, and person power to make it work. There's always something new to learn about HAFA, MHA, HAMP, etc. Luckily the government does provide both homeowners and agents with FREE help and even FREE marketing materials, FREE newletters with program updates, etc. ( I just ordered another 50 MHA brochures this morning). They're free for the asking, so I might has well keep some on hand to give to distressed homeowners that might need to leave their home in near future. Of course understanding and being able to explain these programs to homeowners must accompany the marketing materials.
Anyway, after scanning through these lender report cards and seeing the amount of activity that's been going on, and seeing that most of these servicers did help millions of people stay in their homes, or avoid foreclosure, it doesn't bother me that much when a handful of people complain about their loan modification not being approved. I can't know all the circumstances of how those homeowners got to the point of not being able to maintain their mortgage payments. Some must have had legitmate reasons, but sometimes there is just nothing that can be done as evidenced on the reports that show the large amount of homeowners that defaulted on their trial modifications. I suppose we just need to find the best and most dignified way to help a distressed homeowner through the transition from one home to another. We can only do so much.
Jeff Pearl / Lic in VA
Remax Distinctive - Reston VA
703-727-4876
Homes / Land / Farms / Historic
www.jeffpearlhomes.com
Equal Housing Opportunity Provider
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