Mortgage Fraud and the Ultimate NO BID CONTRACT
Homeowner Stability Act– help for homeowners or just another Government scam? The Making Home Affordable program will offer assistance to as many as 7 to 9 million homeowners making a good-faith effort to make their mortgage payments, while attempting to prevent the destructive impact of the housing crisis on families and communities. It will not provide money to speculators, and it will target support to the working homeowners who have made every possible effort to stay current on their mortgage payments. Just as the American Recovery and Reinvestment Act works to save or create several million new jobs and the Financial Stability Plan works to get credit flowing, the Making Home Affordable program will support a recovery in the housing market and ensure that these workers can continue paying off their mortgages. By supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac, providing up to 4 to 5 million homeowners with new access to refinancing and creating a comprehensive stability initiative to offer reduced monthly payments for up to 3 to 4 million at-risk homeowners, this plan brings together the government, lenders, loan servicers, investors and borrowers to share responsibility towards ensuring working Americans can afford to stay in their homes. US Treasury- Do I qualify for a mortgage abatement, reduction, rewrite, modification Mortgage Debt Relief Act forgiveness relief mortgage backed securities ron paul alex jones peter schiff …
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No Bid, Cost-Plus Contracts…
It’s all too little to late.
Helping the home owners who were placed in fraudulant loans they could’nt afford in the first place.
Lenders have been modifing by attaching missed payments, late fees, and service charges to the back of the new loans while gathering the bonuses for participating.
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kevin
Its not a no bid because the money is available to competing mortgage companies.
And it helped me refinance my house. Not everyone can make 200k a year ya know
have you met ONE person actually helped by this?
its a $9 billion ++ no-bid contract for the mortgage companies thats all
Yeah but the lenders are still competing. Its just there to make it easier for home owners to keep their homes. As long as it doesn’t re-inflate the bubble (not likely) thats good for everyone. The Idea of a no bid is only bad when it undermines competition and makes things worse for the consumer. Here its making things better.