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U.S. mortgage task force to act soon

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  • Kim | | 21 Sep 2012, 03:34 PM Agree 0
    Will this "new" action help homeowners whose mortgages were put into a CWMBS Trust? We've been trying for 3 years to get a modification. We're current; never missed a payment, but because of the extreme reduction in our incomes, our mortgage payment is 50% of our income. The bank told us that we qualified under the MHA program. They sent us denials that didn't make sense. Each department told us different things. The Hope Hotline, HAMP Solutions - all of these agencies that are supposedly there to help homeowners never did anything. They'd just say that they couldn't make the bank do anything - even if they weren't following the guidelines. They'd escalate our application and have us re-apply over and over. Anyway, after 3 years, the bank told us that even though we qualify, our investor won't let them help us.

    Will this new program help us? It's not right that the government gave the banks so much money and they won't help responsible homeowners that need help and have done the right thing. The bank put our mortgage in this trust without our approval. It's not fair that we can't modify our mortgage because of their action - not ours. We're not asking for a handout (like they got). We should be able to get a HAMP modification like other homeowners that meet the guidelines. We've been told to QUIT paying our mortgage and then we'd get help. That's not right.
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