My sister called me late yesterday afternoon from Manchester New Hampshire and told me to read this article on the internet: "WOMAN LOSES HOME WHILE IN TALKS ON LOAN CHANGES" an ominous headline right off the real estate page of the Boston Herald. As I read the article I had a terrible feeling of doom...a sense that this is never going to end. Big Brother tactics will be the end of all of us at this rate; there is more help out there for homeowners in trouble---the problem is, NONE OF THEM WORK!
BIG BROTHER BANK
LET US HELP YOU TO MODIFY YOUR LOAN SO YOU DON'T LOSE YOUR HOME; ONLY ONE PROBLEM: WE JUST AUCTIONED IT OFF!!!
Please read it and let me know what you think about this: Wells Fargo AUCTIONED OFF her house while she was in the process of modification review!!! She is currently working with a lawyer who has vast experience with mortgage abuses of this sort in the Boston area. He has many successes with this same sort of problem...suing the big guys is a very frightening challenge....I wish them luck!!!
We now have, what is it? ....12 Million homeowners who are on the brink of losing their homes in this country and there is nothing anyone can do about it??? I hear all kinds of rumors of "help" that should be working for these homeowners---but nothing works.
Today, on Drudge, I read an article about how Obama has stepped in to halt foreclosures until these homeowners who are on the brink have had a HAMP modification rejection or acceptance for a modification. The financial institutions must give the homeowner time and enough warning before foreclosure or short sale---and now I guess auction!!! We will see if this helps; my feeling is that the banks have such a hold on this administration that there will always be a way out for the banks. Meanwhile, bank owned homes that are sold or foreclosed upon affect all of us and all home values!
I think it is time we all speak out in one way or another, what say you???
**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY
Paula I. Hathaway, Senior Broker Associate, Douglas Elliman Real Estate
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
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