Comments on: Homeowners Need Help Avoiding Foreclosure, Fed Chair Says http://www.workathometruth.com/blog/2008/12/19/homeowners-need-help-avoiding-foreclosure-fed-chair-says/ Tue, 14 Feb 2012 05:06:16 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Grace@Foreclosure Help http://www.workathometruth.com/blog/2008/12/19/homeowners-need-help-avoiding-foreclosure-fed-chair-says/comment-page-1/#comment-16309 Grace@Foreclosure Help Sun, 18 Jul 2010 06:56:13 +0000 http://www.workathometruth.com/blog/?p=803#comment-16309 The federal government had the right idea when they stated that new policies should be high on the agenda for preventing foreclosures. Since the housing and financial crisis have begun, new programs have been created to help distressed homeowners. Policymakers had the right intentions, however, what is disappointing is the lack of enforcement of such policies and the new programs that resulted. HAMP, for example, has been slow in stemming the foreclosure crisis. A large part of why this is the case is because banks have resisted loan modifications and have been known to engage in unethical practices to avoid having to approve loan modifications for homeowners who clearly qualify. The federal government had the right idea when they stated that new policies should be high on the agenda for preventing foreclosures. Since the housing and financial crisis have begun, new programs have been created to help distressed homeowners. Policymakers had the right intentions, however, what is disappointing is the lack of enforcement of such policies and the new programs that resulted.

HAMP, for example, has been slow in stemming the foreclosure crisis. A large part of why this is the case is because banks have resisted loan modifications and have been known to engage in unethical practices to avoid having to approve loan modifications for homeowners who clearly qualify.

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