Treasury Tells Mortgage Lenders To Do More For Homeowners

Reblogger Gabe Sanders
Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

 

Sometimes you just have to wonder why.  Here's an excellent article from Ilyce Glink:

 

Original content by Ilyce Glink

treasuryThere’s a meeting of the Mortgage Lenders Club going on at Treasury early this morning.

I don’t think bagels and cookies are being served.

Mortgage lenders are being told that they’re not doing enough to help homeowners who are underwater with their mortgages or who have lost their jobs and can no longer afford their payments.

Really? Lenders aren’t doing enough to help? Whatever gave Treasury that idea?

Could it be that of the 650,000 so-called trial loan modifications only 2 percent have been made permanent? My email inbox is filled with questions from homeowners who want to know why their permanent loan modifications have higher monthly payments and the same interest rate as their original loan? Take a look at my “Are You In Loan Modification Hell” post and the nearly 100 comments that have continued the conversation.

Are mortgage lenders doing enough to help homeowners facing foreclosure?

What would you like to see change?

Read the full story at my CBS MoneyWatch blog.

 

 

 

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Rainmaker
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Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Thanks for passing this along, Gabe.  Alexander Hamilton would be rolling over in his grave if he knew what our financial situation was!

Nov 30, 2009 12:54 PM #1
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my re-blog.

May 29, 2015 06:52 AM #2
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Even after all these years, lenders aren't doing any more than the minimum.

Jan 27, 2016 03:04 AM #3
Rainmaker
4,797,261
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Sharon and Bruce, thanks for taking the time to comment it is always appreciated.

 

Dec 21, 2017 06:53 AM #4
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Rainmaker
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Gabe Sanders

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