Is this MORTGE MELT DOWN affecting YOU, your FAMILY, your FRIENDS, your STREET or your TOWN? When you call your BANK and question for HELP who’s best interest do you reckon they have yours or theirs?
Mortgage lenders don’t try to rework most home loans in foreclosure because it would possibly mean losing money, a study released yesterday by the Federal Reserve Bank of Boston concludes. The Boston Fed’s findings suggest the Obama administration’s major effort to resolve the foreclosure crisis by giving the lending industry $75 bill to rewrite delinquent loans to more cost-effective levels is not likely to work.
It just reduces down to the fact that the banks do not wish to loose cash helping you. ‘The failure to do these modifications means the entire situation stays terrible longer.” Help is now available through non-profit companies http://free-foreclosure-stop.com
According to the Office of the Comptroller of the Currency, lenders try to maximize profits, and at about that point maximizing profits does not mean modifying loans. As a result, the number of foreclosure proceedings increased to 844,389 during Q1 of 2009, up 73% from quarter one of 2008. Foreclosures continue at a high rate. ‘There are something similar to 2.5 million U.S. Homes in foreclosure now, and 250,000 new repossessions beginning every month,’ according to Valparaiso University law professor Alan M. White, who has studied the issue. ‘They are not even making a dent,’ he said of the administration’s program.
The bottom line is who’s going to help with your LOAN PROBLEMS? Who can you trust not to hurt you? Are the non-public corporations out there in acceptance of the govt or are they SCAMS? It seems the non-public sector does have solutions. http://free-foreclosure-stop.com
You have to do your homework like never before because this is your MONEY and FUTURE and no one cares more about your MONEY than you do!