I tried unsuccessfully to find the CNN news report aired this morning regarding the foreclosure crisis. In a nutshell, the correspondent reported that due to delays in bank notification, there is a sudden surge in foreclosure notification. No, foreclosures aren't dropping contrary to reports of an economic upswing and job creations (which I am still skeptical about).
I would strongly urge that anyone in housing distress contact RUPCO at (845) 331-9860 or 1-888-377-7713. Unfortunately, the old saying that "Only a Fool Represents Himself" still holds true and foreclosure communications received from your lender cannot go ignore because the process will continue with or without your presence. Meaning, the lender will proceed with foreclosure litigation, the court will make a decision, and a sale date will be set. Not such a nice prospect to see a public auction notice for your home posted at the Post Office. And lenders, especially large ones, have so many departments and locations that generally one hand doesn't know what the other is doing. So speaking with their Loan Modification department won't stop what their Legal Department is doing.
The problem is that these banks that got millions in bailouts and millions more available to them in mortgage modification money aren't doing anything to help homeowners. Great job by the government to give the money to the banks instead of the people.
ReplyDeleteA collegeau said if the government took the millions in bailout money, and averaged it out for each homeowner with a mortgage, they could have paid $125,000 on each mortgage. Now I'm not saying the government (with tax dollars) should pay off mortgages, however, if they treated the funds as a grant and liened the home for a certain period of time, it would be less of a fiscal burden. No better way than to boost the economy than by giving the consumer more residual funds. CEOs receiving millions in Golden Parachute perks (with tax dollars) and lenders with increased profits margins aren't what my money should be used for
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