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Originally Posted by Moe  I have not heard about this happening, but I will definitely look into that.
The problem is that you have so many players and big wigs that cant agree on just fixing these loans for those that deserve their loans fixed. Plus you have the evil servicers who make money off of late fees and garbage fees because a person is in default.
As long as their (servicers) allowed to operate like the wild wild west, then we will continue the circus and hamster wheel routine.
There needs to be at least 100,000 people to be hired by these servicers to "properly" help homeowners and this is a low number. Until I hear this (mass hirings and more offices) is being done, it is all just BS lip service and the we, the American people need to demand that more be done and make sure that congress knows what is REALLY happening on main street. |
Thanks Moe,
What do you suggest for those of us who don't fall into the Jan 2005 - Dec 2007 timeframe - we are actually Oct 2004 - since we don't qualify under the new housing bill? Do you think that lenders will at some point seriously consider loan principal reduction? We are in San Diego where our area has been hit pretty hard.