Bait and Switch by lenders in the mortgage-bailout

[jasi2006]

It seems that the lawyers are lining up with the lenders to grab the homes of people seeking help with re-negotiating their mortgages and trying to save their homes. Two people in my family were told that the only way to get the lender to re-negotiate and to qualify for the government's program to help home buyers in trouble was to be in forclosure status. So both members stopped paying their mortgages, went into foreclosure and the banks took their homes. Their attorney who was supposed to be helping them with the lender and the program said that there was nothing he could do and that after going into forclosure, they could not qualify for re-negotiating the terms of their loan. My cousing asked to be able to pay the back mortgage but with the new standards for getting mortgages she couldn't qualify for the mortgage even if she paid the back mortgage and late fees. This is a crock of shit and Obama and his staff needs to look into what is happening to lots of families out there, many of whom are in the middle of making enough to pay their mortgages but not earning enough to qualify for them. How do you folks suggest to get this message to the adinistration?

[Carl Skan]

1. If they could pay the mortgage

why were they trying to renegotiate it under the government program?

[Lance_Boyle]

2. jeesh - so sorry your family members couldn't scam the program

On whose advice did these geniuses stop paying their mortgages? Your OP is unclear on this point. I've seen this "advice" bandied about sarcastically among those not thrilled at the prospect of buying irresponsible borrowers' homes for them, but I've not heard of anyone taking it as serious financial advice. Until now.

[uponit7771]

3. 1.) Don't believe ANYTHING the lenders "tell" you that's not in writing, 2.) google the words...

..."foreclosure help" and study the list that MAKES...MAKES the banks do something not the ones that "allow for"

Here's HUD's link - http://www.hud.gov/foreclosure/