A year ago this week, President Barack Obama was at Dobson High School in Mesa to announce federal initiatives to help distressed homeowners and reduce foreclosures, including the Home Affordable Modification Program (HAMP). Albrant hoped the program would help him but was told he isn’t qualified for a modification.
“I don’t qualify under their specifications, which means I haven’t had a hardship like losing my job or stuff like that,” he said. “The hardship I have, and it is a hardship, is my monthly payment gets bigger … it’s an unsustainable loan and I’m going to lose my home if they don’t do anything.”
The modification program Obama announced has been widely criticized for not helping enough homeowners avoid foreclosure.
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I am not sure why the bank get bail out but they will not help the homeower to do the loan modification. Special, B of A they get the most the money but they will not try to work with the homeower. I have been tell I am not qualify for any program, according they tell me the invistors are the one to make up the rules. They don’t have to follow the guildline so my question is they want to take my house away. They can tell the government they lose the moeny and get the money back but they can turn around to sell my house to someone eles. I am not sure how this work because I am try so hard to save my house but they don’t even care. When the government will know the banks are not going to help the homeowers. They just want the money from the government and make more money for themself.