Over the past few years the government’s developed several programs to help struggling homeowners. How are they working in your market?

Asked by Trulia, San Francisco, CA Wed Apr 10, 2013

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John Souerbry’s answer
John Souerbry, Agent, Fairfield, CA
Wed May 8, 2013
I agree with Richard 100%. The presence of government "supports" only hurts the market in the long run. Many homeowners would not be in trouble today if the government had not forced banks to lend to them in the first place.
0 votes
Shan Saigal, Agent, Santa Clara, CA
Tue May 7, 2013
Some of these programs have worked for people who were current on their mortgages. Some of these programs have worked for others who have been delinquent . Only the government knows about these programs. The banks are using their discretion in making decisions and judgement calls. Most of the admin people working at the banks are not helpful nor are they following any of the governments directives, nor are they qualified in what they are doing, in my opinion.
I have a solution for this problem.
The only way any of these government programs can work would be if the following was followed:
1. HUD or some other governmnet agency would have to administer this, like any other social program, like unemployment , etc., in order for this to achieve it's objectives.
2. All reporting to be done by this government agency.
3. This government agency would be responsible for initiating any foreclosure action.
4. This agency to work with the local and state housing agencies to help the homeowner, as the banks are in the businees of making money, and not to,help the consumer.
Shan Saigal
Broker-Referral Realty Silicon Valley
0 votes
Richard Mucc…, Agent, Dunedin, FL
Tue May 7, 2013
Very little ....the federal government can do more letting the economy take care of itself...they (FHA, Barney Frank, Chris Dodd ) are responsible for the problems in the housing market...they destroyed it...do you expect them to be able to fix it? The business of government should be government. “The most terrifying words in the English language are: I’m from the government and I’m here to help you.” Ronald Reagan
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