Comments on: Faces of those facing foreclosure http://norcalmortgagemods.com/2009/04/16/faces-of-those-facing-foreclosure/ Saving homes with new bankruptcy law Thu, 25 Mar 2010 16:05:31 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Ben http://norcalmortgagemods.com/2009/04/16/faces-of-those-facing-foreclosure/comment-page-1/#comment-773 Ben Sun, 26 Apr 2009 20:09:00 +0000 http://norcalmortgagemods.com/?p=184#comment-773 What the bankers don't understand is that these same faces of perfectly functional families that have never been in this situation before are the same faces they made the loans to in the 1st place These are now the faces of america in shock as the bankers say no and the money has dried up. These people are or were productive americans (mainstreet) and now are being ridiculed for wanting to save themselves ( using Bankruptcy to save their homes) because of the bankers own misguided attempt at ruining a banking instituion and our country's future. Now they want to spend the TARP money to Lobby against SR61 or 1106 to protect themselves instead of using the money for what it was intended for to help Americans or to Stimulate the economy. Shame on Chase BofA Citi Wells fargo the list goes on>>> BEn in Murrieta, CA What the bankers don’t understand is that these same faces of perfectly functional families that have never been in this situation before are the same faces they made the loans to in the 1st place These are now the faces of america in shock as the bankers say no and the money has dried up. These people are or were productive americans (mainstreet) and now are being ridiculed for wanting to save themselves ( using Bankruptcy to save their homes) because of the bankers own misguided attempt at ruining a banking instituion and our country’s future. Now they want to spend the TARP money to Lobby against SR61 or 1106 to protect themselves instead of using the money for what it was intended for to help Americans or to Stimulate the economy. Shame on Chase BofA Citi Wells fargo the list goes on>>> BEn in Murrieta, CA

]]> By: Troubled homeowners not confined to those with “too much house” : Mortgage Law Network http://norcalmortgagemods.com/2009/04/16/faces-of-those-facing-foreclosure/comment-page-1/#comment-591 Troubled homeowners not confined to those with “too much house” : Mortgage Law Network Mon, 20 Apr 2009 13:35:56 +0000 http://norcalmortgagemods.com/?p=184#comment-591 [...] My colleague Doug Jacobs, whose practice is in California’s Central Valley, has written about his clients who need a mortgage modification. The other pattern I see in the Bay Area is loans fraudulently sold to the elderly and the non English speaking. [...] [...] My colleague Doug Jacobs, whose practice is in California’s Central Valley, has written about his clients who need a mortgage modification. The other pattern I see in the Bay Area is loans fraudulently sold to the elderly and the non English speaking. [...]

]]> By: Kristen Emery http://norcalmortgagemods.com/2009/04/16/faces-of-those-facing-foreclosure/comment-page-1/#comment-553 Kristen Emery Sat, 18 Apr 2009 23:34:51 +0000 http://norcalmortgagemods.com/?p=184#comment-553 I agree with you. As a mortgage loan officer, I can report, that most of my industry does not agree with this. But, the current Obama plan is only assisting mortgages owned by Fannie or Freddie - which leaves a large segment of the population without viable help. Because the mortgages are sold over and over, and are part of large pools - many times it cannot be determined who owns the mortgage in order to achieve any type of reasonable modification. There is still more that needs to be done before the financial crisis can stabilize. Thanks, and will encourage everyone to contact their legislatures. Kristen I agree with you. As a mortgage loan officer, I can report, that most of my industry does not agree with this. But, the current Obama plan is only assisting mortgages owned by Fannie or Freddie – which leaves a large segment of the population without viable help.

Because the mortgages are sold over and over, and are part of large pools – many times it cannot be determined who owns the mortgage in order to achieve any type of reasonable modification. There is still more that needs to be done before the financial crisis can stabilize.

Thanks, and will encourage everyone to contact their legislatures. Kristen

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