Thousands of people are losing their homes to foreclosure or
filing bankruptcy to prevent the loss of their home through foreclosure every
month. In fact, recent reports from
industry insiders are claiming that there are more than 7,000 bankruptcies
being filed each day, while some have projected that big banks like BofA and
Wells Fargo could be releasing as many as 25,000 homes to foreclosure
proceedings by December of 2010. In many
instances homeowners have been led down a not-so-merry path, often being told
that their home is under review for a loan mod, which inevitably is denied, as
a foreclosure auction date is sent to the homeowner.
The Obama plan (HAMP program) has taken hit after hit for
failing to actually save homes. In a
recent news article put out by the Huffington Post, entitled Extend and Pretend:
The Obama Administration's Failed Foreclosure Program, the Obama Plan is
described as doing nothing more than putting off foreclosures, allowing the
banks to appear financially healthy because they can carry the full value of
the loan, and not record any loss.
This has been identified as a stabilizing act for banks and
the housing market, but not for homeowners.
They are left for months, even years wondering if they will lose their
homes to foreclosure, when the sheriff will come knocking on their door, or if
they will have to destroy the rest of their already distressed credit by filing
a bankruptcy.
Rockingham Associates
is a company that investigates loans and investigates lenders. Borrowers have federally protected rights. Rockingham Associates has a long history of
helping borrowers gain an advantage through investigative techniques.
People with predatory loans normally end up with predatory
servicers. The banks are doing what is
best for the banks, which has always been the case. But this time in an effort to save their own
bottom lines they have betrayed the American public, strung them along, taken
money from them under false pretenses and finally taken their homes.
Homeowners who are seeing what the banks are really up to
contact Rockingham in record numbers to get their lenders and their loans
investigated. They use the results of
these investigations to show the bank that there are laws which have been
broken by the banks.
The Obama Plan was all about giving the lenders “incentives”
to work with homeowners. Incentives
don’t seem to work with the lenders.
They’ll toss people who don’t even qualify for the HAMP program into the
program, and then extract payment from them month after month after month, even
though the program only required three payments during the trial phase. Then they tell them they don’t qualify, and
complete or start foreclosure. The
government paid them to do this. Sadly
the Government continues to allow this predatory servicing to continue
unchecked as the foreclosure statistics rise month after month.
What does work?
Predatory Servicers seem to respond best to the force of the laws that
protect homeowners or borrowers. Sadly,
they spend their time threatening and abusing homeowners preying upon the
homeowners fear of loss, while then doing a 180, and becoming the homeowners
“best friend”. It seems when you start
showing the lender “the goods”, he then realizes that you did qualify for a
loan mod after all.
If you are tired of being a victim of your predatory lender,
and tired of being lied to, and you truly think that you should be able to save
your home, then you should consider contacting the people at Rockingham
Associates. They are the experts who
save homes.