Time magazine need letters to editor

[davephx]

This is a feel good all is well article that needs letters to the editor


TIME Magazine online says:
one of the delays in processing foreclosures right now is that the servicers are trying to make sure that every loan in their portfolio either qualifies or doesn't qualify for HAMP [Home Affordable Modification Program, the Federal Government's attempt to incentivize more modifications]. Even if you've already screened a loan to see if it might qualify for your own modification programs, now you're going to go back and rescreen it. That takes an awful lot of time to work through.

Read more: RealtyTrak's Sharga on Outlook for Home Foreclosures - TIME
Note you have to skip ad in upper right corner.

Click on editors name on top and can send letter as I did.

Comments may be used in future articles.
Response says:
Thank you for letting us hear from you. The editors appreciate the interest that prompted you to write, and they have made attentive note of your comments. We hope that you will continue to share your thoughts with us.
Best wishes,
TIME

Here is my current post I use on many blogs and media sites:
Regarding Home Affordability Modifications (HAMP)

The HAMP program is very good for what it was designed to do. But it is the servicers implementation that is the problem.

Desperate Home Owners Petition Congress For Help
PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS | Petition2Congress |

Many servicers are finding any excuse they can to foreclose instead of modify because the servicers make more money by foreclosing. It is the investor (often Fannie or Freddie i.e. taxpayers) that lose. The servicers get fees for foreclosing, managing the property owned and reselling it .

Many lawyers, consumer groups and recently a Congressional Oversight Committee has pointed out the servicer problems.

"We believe all servicers must do more to reach struggling homeowners faster," Treasury spokeswoman Meg Reilly said."

REACHING homeowners is NOT THE ISSUE. It is easy to get on trials but they often are required for 6 months instead of 3 per the HAMP directives. The issue is being able to get final modifications as often the directives are not followed and additional requirements are being imposed by servicers and lenders.

Most servicers, and Fannie and Freddie as investors are backlogged for many months since there is to much "reaching" going on to get more in the pipeline they can't process. Its getting the modification approved that is the huge problem.

It is common to have to resend the same documents many times as the servicers either intentionally lose them or are just too overwhelmed. Than they claim they aren't getting the documents that have been mailed or faxed repeatedly.

If you are denied, often for reasons not part of the requirements, they can foreclose and sell without notice immediately. That power to sell is even in the Trial Agreement Document.

Note: I have been thinking about linking the Huffington Post article but most media likes to be independent and not look to others for stories. I also don't mention loansafe only because it is in the petition. I tend to be too long winded as it is !