Barack Obama
In my experiences with trying to help friends save their homes
from foreclosure and or foreclosure auctions, I have witnessed banks pull just
about every stunt in the book against homeowners. The Obama Administration has
not done enough to rein in certain banks, who are not acting in the best
interest of homeowners.
There are three main issues to consider in attempting to save a
home, mainly via mortgage modifications. The three issues are the
mortgage/payment, back taxes and insurance. Cities in America are demanding
yearly property taxes that are due and banks are refusing to grant modifications
without back taxes and or missed insurance payments being paid and brought
current.
City tax collectors are even foreclosing on homes whose
mortgages are current, but taxes are delinquent. Some of the amounts owed are
relatively small, yet properties are being seized and auctioned to satisfy the
amount, as the homeowner placed their limited resources into making mortgage
payments.
It seems homeowners in America can't win and it is up to the
government to make laws to help people in this regard or millions more
foreclosures are on the way. If the federal government (FBI, DOJ and SEC) had
done their jobs in properly regulating and investigating the practices of banks
and the corporate sector on the whole, the sub-prime crisis would not have
happened and millions of people in America would still be in their homes.
Therefore, it is the government's duty to fix a problem that is raging out of
control and damaging millions of people. However, the past four years have
indicated the Obama Administration is unable to fix the problem that can be
fixed.
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