March 11, 2011

HUD Statement on House Passage of the Emergency Mortgage Relief Program Termination Act (H.R. 836)

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“The Emergency Homeowners Loan Program will provide relief to tens of thousands of families who are still struggling to make ends meet after the deepest economic recession and housing crisis in a generation.   The Obama Administration is committed to helping struggling homeowners stay in their homes and taking the steps needed to stabilize the housing market, and ending this program would mean the loss of an important lifeline for those families and risk damaging the fragile recovery we’re finally starting to see in the housing market. It would be irresponsible and should be opposed.”

7 Responses to HUD Statement on House Passage of the Emergency Mortgage Relief Program Termination Act (H.R. 836)

  1. I disagree with your statement. I am a real estate broker and this act has actually caused us many problems and is slowing recovery.

  2. HUD is a supporter of the Druid Heights Community Center in Baltimore City. I have worked closely with the community center and they are not concerned with the community. They do just enough to give data to HUD. There are organizations that deserve the grant money. Messgaes are being left from people needing help for their mortgages and they have to call 5 – 6 times before they receive a response. Most of the time the end up helping themselves or losing their house.

  3. My bank Indy-mac will not help us with loan modification. We have applied for he loan since 01/2010 and they denied it said we don’t have enough income. We are being force out of the house so they can auction it out. I have called your Agency to get the local Counselor. I have called two Agencies in my area, Tacoma, WA but no one return my call. I contacted an online Attorney and they took my $3000 and never help us. HUD, please change this program, it does not work. The banks are still not helping the home owners. It more profit for them to put the home in auction or short sale. Everybody I talked to frustrated with this program. It’s not working and so many people are still loosing their home.

  4. Dear Hud,

    I have recently started working with a Reverse Mortgage Company in the Compliance and Default Department. In the past 4 months I have noticed more and more homeowners struggling with Insuarnce and Taxes. While there are some that bring this on themselves by over spending there are many that just have SS, either 1 or 2 checks and the monies just don’t add up for them.
    The biggest need I see is for HUD to form a Department that soley addresses these issue’s. Homeowners would have to provide a detailed list of expenses and based on that their amount of relief would be determined.
    Benchmark many of these funds just for this cause and it will provide relief.
    These homeowners get set-up in a repayment program to keep their home but then they continue to add up new taxes and Forced Insurance charges as they do not have the resources to stay ahead. This causes their payment to increas year after year.
    A program that paid off the current debt and guidance in making responsible payments for future taxes and Insurance not only would benefit them, but I believe the economy as it would also leed to there being more cash availble for spending. A mojority of what I see is in specific ares of the country, where the econmy only worses in these areas.

    It has bothered me to speak with some of these elderly, the backbone of our past and not be able to offer help, real help!

    I would love to be the guy who starts this nationwide program and enable these elderly to have a smile on their face and enjoy their final years.

    After all, isn’t that what America is all about?

    Best Regards,

    Vincent G.

  5. we have ask for help for over a year from Indymac we have jumped throgh all the hoops and spent money but indymac wont help home is not worth market price so the poorer people pay high intrest rate and the rich get low intrest rate this was part of the plan all along.

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