The number of government programs that have come out of Washington DC over the last three years and have done absolutely nothing to truly help homeowners has been a ongoing joke here on my blog and over in my forum with over 19,000 homeowner members.
We have seen the Hope Now committee give us Hell Now. The FHA Secure made homeowners feel really insecure. The Project Lifeline program was more like a cement and chain anchor. Moratoriums seem to act more like homeowner crematoriums. Mediation seemed like a friendly way to work things out, but it is really more like banking communism.
Main Street just can’t get a break or true help.
No offense Mr. Dick Durbin, but is this all you guys do in Washington is just talk.? Nothing has come out of this besides talk about helping homeowners for two years.
Simply put, the disconnect and lack of help from the people who are supposed to work for us, our state Senators, has been nothing short of travesty.
Well, it looks like some Senators are distributing the homeowner help propaganda again folks.
OK, just FYI, the elections are in November 2010 and all these guys and gals want to do is get reelected. They have said this same BS for over two years and nothing has helped or materialized from these talks. I consider this political propaganda to fool their constituents into thinking they are actually trying to do “something” when all the while they plan to do nothing.
What makes us think now that Washington is going to do something?
Obama promised change and he gave us the same ole BS. The Making home Affordable has been nothing short of a joke with very few people actually getting permanent loan modifications.
Don’t believe me? Check out my forumand read the stories for yourself!
Here “they” go again (yawn):
“This bill will force lenders to modify qualified mortgages, create a homeowners assistance program and give states a bigger role in mediation efforts,” Dick Durbin of Illinois, the Senate’s No. 2 Democrat, said in a statement. “It’s long past time for the Senate to step up to keep families in their homes and to help lead the way toward economic recovery.”
The legislation, introduced today by Senator Jack Reed of Rhode Island, would require lenders to evaluate all borrowers for affordable loan modifications before initiating foreclosure. It would also require banks to offer and approve a loan modification if the restructured mortgage returns more money, the so-called net-present value, to investors than would foreclosure.
I completely agree with you here. All these government programs have done is give struggling homeowners false hope….Only a handful of homeowners actually get to benefit from these programs. It seems to me that the lenders are the ones who are really benefiting. I do not know if I have my facts straight,but I have heard that lenders receive compensation for modifications they perform…