USA Today: Holiday evictions show gaps in mortgage aid
USA Today has this story: Holiday evictions show gaps in mortgage aid.
A snippet:
For those struggling to stay current on their mortgage, hearing their servicer say they can’t get help until they’re three months late sends a mixed message.
“Say, I’m now unemployed or underemployed; I’m paying, but I anticipate I’m going to have a problem — those people are not allowed access to modifications,” says Bill Garland, head of the home retention services unit at Fiserv, a financial-services company. “That is not a good practice. You’re basically telling them to stop paying. I have an allergic reaction to that.”
I don’t know that any mortgage relief program can be written that will help everyone who got screwed in this mess.
The bottom line is: What else can you do in the meantime? Can you buy yourself a little more time through cutting back or getting financial help on other expenses?
Posted: December 5th, 2008 under Financial crisis / recession, Foreclosure, In the News.
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