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The Moratorium Myth

Started by washingtonindependent · 8 months ago

As the government, housing advocates and banks and lenders from Citigroup to JPMorgan Chase struggle to streamline loan modifications and stave off foreclosures, one tactic keeps coming back to life as a sure-fire weapon: the 90-day mortgage moratorium.
In California, Gov. Arnold Schwar ... Continue reading »

2 comments

  • Scott S

    7 months ago

    I just completed a loan modification with http://www.rapidmodify.com on my Chase mortgage. They did an unbelievable job and lowered my payment significantly. The 2 payments I was behind got pushed to the end of my loan and I am current with Chase again. http://www.rapidmodify.com was easy to work with, they responded quickly to all of my questions and got the job done in under 2 weeks once I put in my paperwork. I highly recommend them if you have a Chase loan.
    reply
  • Rick

    7 months ago

    THE SOLUTION TO THE PROBLEM IS TO RESET ALL HOME MORTGAGES
    THROUGH A NEW PROGRAM THAT OFFERS MORTGAGES FOR HOMES THAT WILL
    BE OWNER OCCUPIED; A 3% FIXED RATE LOAN FOR A 30 YEAR TERM AND OFFER
    THIS PROGRAM FOR THE NEXT 3 YEARS.

    THESE MORTGAGES WILL ALSO APPLY TO NEW HOME PURCHASES WITH MORTGAGES
    FOR OWNER OCCUPIED MORTGAGES ONLY.

    THIS WILL PUT MONEY BACK INTO THE HANDS OF THE CONSUMERS AND BOOST
    THE ECONOMY.....STABILIZE HOUSING PRICES .....REDUCE EXCESS INVENTORY...
    BRING PARITY TO THE HOME OWNER VERSUS RENTERS INBALANCE.

    RESTARTING THESE MORTGAGES UNDER THIS PROGRAM WILL MAINTAIN THE
    CURRENT BORROWED AMOUNT BASIS WHICH WILL ALLOW FINANCIAL INSTITUTIOS
    "REMOVE THEM FROM THE TOXIC LIST".....STOP FORECLOSURES AND CREATE DEMAND.
    reply

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