Current legislation, both Federal and Californian, encourages mortgage companies to modify or refinance home loans and avoid foreclosures. But these programs are voluntary on the part of the loan companies, and they aren’t working. Hence the abundance of foreclosures.
One of the nation’s largest home loan lenders, Countrywide Home Loans, has been testifying for months in [...]
Posts on ‘January 15th, 2009’
Mortgage Modification: The Current Voluntary System Doesn’t Work.
Tell Obama mortgage modification a priority
President elect Obama is soliciting input on issues important to the public for a Citizens Briefing Book. Here’s a direct way to urge active support by the White House for a change to bankruptcy laws to save homes.
Obama campaigned on support for judicially supervised home loan modification. He appears to be waivering about including it [...]