There has been a lot of talk in Washington about mortgage assistance, and how ineffective it is because it fails to address a top cause of foreclosure–unemployment. The Home Affordable Modification Plan (HAMP) is there for those who have experienced an income reduction but few lenders are modifying mortgages for borrowers who have lost their jobs. The Treasury Department, the lenders of the HOPE coalition, and Congress began talking over solutions back in July 2009. It’s nearly February 2010 and still, nothing.
Continue reading ‘Mortgage Help for Unemployed Homeowners?’
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