Is this MORTGE MELT DOWN inspiring YOU, your family, your FRIENDS, your STREET or your TOWN? When you call your BANK and ask for HELP who’s best interest do you believe they have yours or theirs?

Mortgage lenders don’t try to rework most home loans in foreclosure because it would probably mean losing money, a study released yesterday by the Federal Reserve Bank of Boston concludes. The Boston Fed’s findings suggest the Obama administration’s major effort to solve the foreclosure crisis by giving the lending industry $75 billion to rewrite delinquent loans to more affordable levels is not likely to work. It just boils down to the fact that the banks do not want to loose money helping you.

US Representative Barney Frank, head of the House Financial Services Committee, said the results of this study might provide answers as to why so few struggling homeowners have been able to get help. “The problem is worse than we thought,” Frank said. “The failure to do these modifications means the whole situation stays bad longer.” Help is now available through non-profit companies http://free-foreclosure-stop.com

According to the Office of the Comptroller of the Currency, lenders try to maximize profits, and at about that point maximizing profits does not mean modifying loans. As a result, the number of foreclosure proceedings increased to 844,389 during Q1 of 2009, up 73% from quarter one of 2008. Foreclosures continue at a high rate. ‘There are something similar to 2.5 million U.S. Homes in foreclosure now, and 250,000 new repossessions beginning every month,’ according to Valparaiso University law professor Alan M. White, who has studied the issue. ‘They are not even making a dent,’ he said of the administration’s program.

The bottom line is who is going to help you with your LOAN PROBLEMS? Who can you trust not to hurt you? Are the private companies out there in compliance with the GOVERNMENT or are they SCAMS? It appears that the private sector does have solutions. Non-profit agencies have the tools to FIX your problem. http://free-foreclosure-stop.com

You have to do your homework like never before because this is your cash and FUTURE and nobody cares more about your MONEY than you do!

Tags: A debt consolidation refinancing and home improvement loan

This entry was posted on Wednesday, August 12th, 2009 at 2:21 pm and is filed under A debt consolidation refinancing and home improvement loan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.