1st Your Story Post @ Homeowners 4 Hope – Greedy Bankers

We’ve have been dealing with Washington/Chase for 10 months….It has been a long fruitless journey….We are asked to keep updating our information and frankly, I’m getting discourged and frustrated with all the bull.  I know we are not alone and that thousands of other good, honest, hardworking and diligent people out there are just getting the run around like we are.  Come on Bank people, do what you took the money for and help…. It’s still the greedy little bankers out there that are keeping the housing market at a stand still….I think the banks are waiting for the little Mortgage fairy to wave her wand and save the banks from incurring big lossed…..Hey, we all have to bite the bullet…we lost money too,  It’s called equity.  We have none. !!

- M. H.

Feds Scold BofA, Wells Fargo on Loan Modifications

The Treasury Department on Tuesday announced that only 9 percent of eligible home owners had been helped by the federal program to modify home loans and prevent foreclosure.

It scolded banking giants Bank of America and Wells Fargo, both of which received federal bailout money, pointing out that these banks have been among the least willing to assist troubled borrowers.

Bank of American modified 4 percent of eligible loans, and Wells Fargo modified 6 percent.

Big banks that did better included JPMorgan Chase & Co., which modified 20 percent of eligible loans, and Citigroup Inc., which modified 15 percent.

The bank with the best results was Saxon Mortgage Services Inc., which helped about 25 percent of its eligible borrowers.

Source: The Associated Press, Alan Zibel (08/04/2009)

Homeowners 4 Hope targets Chase Bank for first event

After discussions with our quickly forming group, it has been decide that Chase Bank  is our best example of what we need to change.  We will have our Rally on:

Friday, August 14^th at 10:00.

Chase Bank
101 W. Broadway, Suite 100
San Diego, CA 92101

Click here for more info about the day’s event

Email us if you want to keep informed about the Rally

A Bill in California Will Establish That Lawyers Cannot Be Trusted

“To pass into law a piece of legislation that so clearly, thoroughly and seriously maligns the legal profession, based on allegation and innuendo would cause our society harm that could conceivably last for generations.  To believe that attorneys in large number are defrauding distressed homeowners out of $3,000 fees for work that can take many months to complete, stretches the imagination past the point of credulity.

Most notably, CNNMoney.com recently asked homeowners who attempted to obtain a loan modification through the HAMP program WITHOUT ASSISTANCE OF ANY KIND to write in and share their experiences.  Well over 500 letters were received and the overwhelming number expressed intense feelings of extreme dissatisfaction and disappointment.

Additionally, in the last two weeks, we have all learned that banks and servicers have not fulfilled their promises to modify mortgages per the agreed to terms of HAMP, much to the administration’s chagrin.  Treasury Secretary Geithner and President Obama have both admitted the program has not worked effectively and now promise tighter controls.”
Read more here: http://mandelman.ml-implode.com/2009/08/a-bill-in-california-will-establish-that-lawyers-cannot-be-trusted/

Help slow to arrive for troubled homeowners

Only 9% of eligible borrowers get mortgages modified under new program”For the past 16 months, Courtney Scott has been trying to get her lender, Bank of America, to modify the mortgage on her Atlanta-area home. She’s sent dozens of letters and e-mails to state and federal officials, bank representatives and mortgage assistance groups like HOPE”…
Read more here: http://www.msnbc.msn.com/id/32287179/ns/business-mortgage_mess/from/ET

Loan Modifications not Getting Better – Bank of America Worst

For those of you who are not sure this is a real issue, check out todays Bloomberg.com.

Bank of America Corp. and Wells Fargo & Co. were the worst performers among the biggest U.S. banks in modifying loans for struggling homeowners, according to a Treasury Department report.

Bank of America began 27,985 trial loan modifications, or 4 percent of its eligible loans, under the government’s Making Home Affordable program started in March, the report today shows. Wells Fargo had a 6 percent rate, trailing JPMorgan Chase & Co.’s pace of 20 percent, and Citigroup Inc.’s 15 percent.

Come join us in San Diego on Friday August 14th for a Homeowner Support Rally!

We have gained enough momentum to warrant a first “public forum discussion”, i.e. a Homeowner Support Rally.  We hope to have up to 100 persons in attendance. The event will be videoed and placed on YouTube to help gain awareness and momentum in the main stream media.

If you or any homeowners are struggling with your mortgage payments, or are in default or recently foreclosed upon, please attend our rally Friday, August 14^th at 10:00. Respond here to indicate your interest in attending so we can get a general head count.  This media event will take place in front of a major bank in down town San Diego. The bank is likely to be one of the major three Chase, Wells Fargo, or Bank of America, as these make up the bulk of the failed loan modifications. $120 billion in TARP funds for these three, and they can’t help homeowners in a meaningful way.

The choice of which bank to meet in front of and an address/map will be posted within a day or two.  If anyone in LA of the SF areas that want to hold their own rally in support of their market place, please contact us asap. There are probably upwards of 2 million homeowners in distress in California alone. They all deserve a voice and help.

Our goals are simple: Create enough public awareness and media attention to get the major banks and government to sit up and take notice.

We are asking for two very simple things:
1)      Banks and the government should create immediate procedures that provide meaningful homeowner Loan Modifications in a reasonable timeframe like 90 days or less.

2)       Restore homeowners mortgage related credit to zero lates and re-run credit scores immediately to improve their ability to get normal credit or buy a home.
(See our Mortgage Credit Moratorium proposal here: Mortgage Credit Moratorium)

Thank you for your support of millions of homeowners in need of immediate help with and solutions to their Loan Modification requests.

My Story

This is where we tell about our efforts and frustrations to stay in our homes.  Send us yur stories so we can get YOUR WORDS OUT TO OTHERS.

Email us at YourStories@HomeOwners4Hope.org

If you cannot wait and want to put some comments up RIGHT NOW make your comments by clicking on the “COMMETS” button below

Here is my Story…..

I have been in Loan Modification with Chase Bank, formerly WAMU, of alomost a year now. They have dreagged their feet, made me re-send information 6-8 times, ignored me, been rude to me, insulted me, and were at times jsut stupid in the things teuy have said. They recently mailed me Loan Modification papers with payment HIGHER than what I had. All the while actually positng on my front door Foreclosrue and Bank Trust Deed sale noctices. People come to my door and act strange, they drive by my house and take pictures and point. I have a a family with daughters. I am tired of being humiliated and insulted. It is time the banks did something worthwhile, before I lose my home and they take another large financial loss. No one wins if I get foreclosed on. Least of all the bank itself. AHHHHHH!

Feldman Law Center Goes Above and Beyond the Call…

“According to Steve Feldman: “It took my breath away for a moment, I have to tell you.  This man is in his seventies and had nowhere to go if his home had been lost.  When they said it had been sold that day, all I could think of was ‘no way, not going to happen’… we had to get it back… and we did.  And I don’t mind admitting… it’s days like that day that make my job seem like the best one in the world.  I mean, how many people get the chance to accomplish something like that?  It was truly wonderful to see the look on the client’s face.”
Read more..http://mandelman.ml-implode.com/2009/08/feldman-law-center-goes-above-and-beyond-the-call…/

H4H Present Goals and short term Strategies

Homeowners For Hope Foundation Why should millions of Americans lose their homes so banks can be more profitable! Let’s give hope for meaningful Loan Modification solutions.

Tell us your story here: http://homeowners4hope.org/wordpress/home-owners-in-their-own-words/

Since my first email last Wednesday in regards to creating a public outcry to support homeowners in loan distress, I have received an immense amount of support, positive comments, and discussion on the topic. As expected, this is a highly charged issue affecting 1 in 10 homeowners or more nationwide. That adds up to over 10 million hard working, tax paying owners who would really prefer not to be kicked out of their homes due to conditions well beyond their control so that banks can continue to pad their bottom line at our expense.

Our goals are simple: Create enough public awareness and media attention to get the major banks and government to sit up and take notice.

We are asking for two very simple things:

1)      Banks and the government should create immediate procedures that provide meaningful homeowner Loan Modifications in a reasonable timeframe like 90 days or less.

2)       Restore homeowners mortgage related credit to zero lates and re-run credit scores immediately to improve their ability to get normal credit or buy a home.

(See our Mortgage Credit Moratorium proposal here: Mortgage Credit Moratorium)

At this early juncture, with the help of a rapidly forming advisory group, we have formulated the following general short term objectives:

1. We are planning the first public forum discussion to be held within the next 10 days. This will be held in front of one of more of the major banks. The first location is likely to be in San Diego downtown area. However if we can get enough support, we could hold 2-3 at one time to increase exposure and reinforce the need.
2. Attract as many affected homeowners who would like to participate in a show of support by attending the rally.
3. Attract media attention and support to help expand the awareness and participation and deliver the message to the major banks and government officials.

We need your support in the following ways:

• Please relay the message to anyone you know who has been affected by the failure of banks and government to address the problem.
• Encourage participation in our efforts by homeowners, media people, political persons, banks, realtors, and trade related groups.
• Support in the form of writing, advisory help on growing a  Political Action Group to help homeowners nation wide have a direct say in matters as important as this.
• Media support in the form of writing, online media television, print stories in major newspapers.
• Homeowner support services like loan or financial counseling, pro-bono Loan Modification help, etc.
• Technical support in the form of video, rally planning, internet help.
• Political contact assistance.
• Industry support assistance.

For more information on the Homeowners 4 Hope foundation:

• Web site at: http://homeowners4hope.org/wordpress,
• Twitter: http://twitter.com/homeowners4hope
• Email address: info@homeowners4hope.org

Thank you for your support of millions of homeowners in need of immediate help with and solutions to their Loan Modification requests.