Cheering form Home Loan Mods under US Program to be Made Permanent

It's good that US Treasury Dept finds progress with home loan mods through the Obama Admin. HAMP program.

 

However, this has a long way to go for success.  US Government should encourage lenders to get the temporary mods and payment relief through this program to be made permanent as soon as possible, for benefit of our economy, job and people involved.

 

This $75 billion dollar program had purpose of helping struggling homeowners modify their mortgages, and has almost a million active borrowers.  But just over 3 percent of the eligible borrowers have permanent loan modifications.

 

We have friends who were caught by downward home price market here in Orange County, lost their equity, still making payments, have applied for the HAMP program, and ask for the govt. to help to move this forward and get loan terms permanently modified.

 

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Harrison K. Long, Realtor & broker, Explore Group, Coldwell Banker Previews, Irvine, CA.  CA DRE #01410855.  ExploreProperties@gmail.com.  Lawyer member of the California State Bar Association - State Bar number 69137.  Helping People with their Best Decisions About Real Estate at Orange County, California. 

See Reuters article, Feb. 17, 2010 - UPDATE 2-US Treasury says home loans in modification rise - click here.

 

 

 

 

 

Posted via email from Explore OC Homes