Lenders Make FHA Loans More Difficult to Obtain

By
Mortgage and Lending with Better Homes Realty Granite Bay

 

The country's major lenders... the same ones being bailed out in the "troubled asset program'...  seem to be making it much more difficult for the Housing Bill programs to help troubled homeowners.

Apparently, they are not liking many provisions in the bill, specifically the ones allowing the FHA to short-refinance underwater mortgages, probably held by these lenders.  This is apparent that the taxpayers are good enough to hand them corporate welfare, but not good enough so that the banks would rather foreclose and take a loss, rather than work out a way for the homeowner to stay in the home they purchased.

By significantly raising fees and interest rates offered on FHA loans... it makes it just as difficult for the homeowners to look at that as a solution, and continues to diminish alternatives.

We can also bet that the homeowner falling behind on the Chase home loan, is also probably behind on the Chase credit card, and their attack dogs are relentless, I'm sure.

Congress needs to wake up, and look at the horrible anti-American and anti-human behavior of these banks... while I am a supporter of the fact that we need to get out of this mess, in addition to regulating compensation of their executives, maybe we need to regulate their behavior in the name of common decency. 

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