Momentous Milestone or Monumental Mismanagement of Modifications?
E.J. Simonsen | Nov 10, 2016
HOPE NOW, an industry-dominated alliance between lenders, housing advocates, and the government, just claimed a “Momentous Milestone” of reaching eight million permanent modifications.
That would be cause for celebration, except HOPE NOW is run by the very people who caused the problem in the first place. So the modifications that were offered put the lenders interests ahead of the borrowers, and in doing so, much of the $46 BILLION that was committed to helping families facing foreclosure under TARP has been squandered. What’s worse, over half of those who did get modifications went right back into foreclosure with the 17 MILLION others who never got any help and who got foreclosed on during the same period.
Where was the help for those families? Did HOPE NOW deny those families a modification because helping them wasn’t in the best interest of the lenders they represent? Did they accept tax dollars to bail out their own misdeeds instead of truly helping families in need as they were supposed to? What I do know is that we cannot trust these Banksters to do the right thing – just look at Wells Fargo.
If you or someone you know is facing foreclosure, one way to know for certain that your interests are represented is to hire a competent, local law firm knowledgeable in stopping foreclosure and helping homeowners. The banks have their high-paid attorneys and pseudo “help agencies” protecting their interests, and you should too.
The Lane Law Firm regularly represents the little guy against the banks. For a free consultation, click the button below.