Moments after posting my comments about how the HARP program is delayed while the banks and local government officials continue to burn up hope for reviving the real estate industry, along comes this story:
http://blogs.palmbeachpost.com/realtime/2012/01/10/unemployed-borrowers-may-get-more-time-with-no-mortgage-payments/
The above linked article says that a new program is scheduled to begin within the next month that grants relief to the unemployed regarding their mortgages.
Don't think that some people in poor financial straits won't find an excuse to lose their jobs so they can skip out on mortgage payments. And to think this program could go through before the HARP program, which is designed to reward those who have faithfully made all of their mortgage payments on time but can't refinance because their homes have lost value.
This all leads to even more people who can't make their mortgage payments, are not able to sell their home, and are not able to financially qualify to purchase a home.
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1 comment:
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