Home Loan Modification Program - right time to apply?
Bank of America is the largest US Mortgage servicer who took the first step in halting their Bank Of America foreclosures throughout the nation. This BOA foreclosure crisis started in California, Nevada and Arizona and then quickly spread to other states around the nation. The crisis came into being because of flawed paperwork and affidavits that were supposedly "robo-signed". There is an urgent need for a strict Judiciary review of past and current foreclosures nationwide, and it may be prudent to require a pause on all foreclosure activity nationwide.
Bank of America, JP Morgan Chase & Co., Ally Bank's GMAC Mortgage unit and PNC Financial have stopped all of their foreclosures and have confirmed that the justice department is looking into all the foreclosure frauds especially in the 23 states that have been swept up by the swelling Financial Crisis. An outbreak of public anger has made it clear that many people believe mortgage lenders are using fraudulent documents to evict homeowners out of their houses that should not even be in foreclosure. The furor of complaints has made officials increase the pressure on the mortgage industry. Amid these allegations of fraudulent Foreclosures, many now believe that only President Obama's Loan Modification Program can help the many struggling homeowners who are at risk of being eaten by all the corporate sharks looking to take away their homes!
"The bank Of America, the Nation's largest Bank, halts foreclosures in 50 states; Read the full story and see how false affidavits and "robo- signers", the so called Foreclosure Frauds, made thousands of Americans leave their homes that should have been able to avoid foreclosure". Also learn, how the Obama Home Loan Modification Program has become a requirement to avoid foreclosure."
According to Stan Humphries, an economist, "What was initially cast as a problem of sloppy record-keeping is rapidly evolving into one that suggests the bank's procedures for recording loans might not have followed the law." This halt is putting the housing market in pandemonium and causing vast perplexity. While Bank of America stops Foreclosures, a real estate agent, Jim Klinge from San Diego said, "If it's still January, February, March, and they're not foreclosing, you'll see a big effect, it'll be a banker's holiday, free rent for everybody and a lawyers' gold mine."
Barack Obama has allotted $ 75 billion to all the struggling homeowners and provided incredible opportunities for home loan modifications. This Program is going to help 3 to 4 million people until 2012. For more information regarding the plan visit: mortgageitt.com/loan-modification
Getting Loan Modification Help can allow you an opportunity to save your house from a possible foreclosure. You can save yourself from the potential fraudulent practices of banks or mortgage companies and save your home and family at the same time. You have bought this amazing home for your family; do not let any corporate bank or mortgage company steal it from you. Just follow these steps to modify your loan. You don't have to deal directly with Bank of America Loan Modification services or any other bank or Mortgage Company's loan modification department. Consider searching online for Loan Modification Help.
Loan modification is also intended to help the many homeowners who are unable to refinance their mortgages because of their depreciated house values. The Obama Home Loan Modification plan accomplishes this by helping homeowners to keep their homes by modifying their current mortgage. As Warren Buffet said, "foreclosures don't occur because a loan turns upside down. They occur because the family can no longer afford the payments". This plan is a blessing to the whole Nation and all the struggling homeowners should take advantage of Loan Modification Help.
