What is the government doing to help struggling homeowners stay in their homes?

Asked by Sheena Patel, Miami, FL Wed Apr 10, 2013

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Ron Thomas’ answer
Ron Thomas, Agent, Fresno, CA
Sat May 18, 2013
The last figures that I saw about HARP, the Government wasn't doing diddly!
It is all a bunch of rhetoric and political posturing; particularly from Obama and his people.
The figures were something like 7% of goal, in helping applicants.
I've that a couple, (literally) homeowners had their principle reduced; and that wasn't because of any pressure from the Government.
HUD is supposed to be overseeing and regulating the Lenders as far as refinancing their bad loans and upside-down customers: They are doing nothing!
It's all a bunch of lies and propaganda.
0 votes
I'll second Ron's observation. One must go to bat for one's self! It's not the gubbment's job to provide work, free cell phones, etc. either.
Flag Sun May 19, 2013
Yanoska Diaz, Agent, Miami, FL
Thu Apr 11, 2013
In February 2012, 49 state attorneys general and the federal government signed the Settlement Relief with the country’s five largest mortgage servicers. The Settlement Relief has provided (and continues to provide) billions of dollars towards assisting Home Owners stay in their homes.

I personally know a great number of Home Owners that have received huge principal and interest rate reductions with a fresh start and forbearance of second liens (credit lines) of up to $250,000.00.
2 votes
Steven Epste…, Agent, Coral Gables, FL
Wed Apr 10, 2013
A better question is what is/are We The People and the person(s) doing to stay in their homes ... why are "we" so conditioned to rely on the government for hand-outs ... who's never been able to run any business profitably? That's not their job anyway people, its time to take 100% responsibility for your own actions, don't weasel out and blame others or expect them to help you, "just because" ...
If you need anything further please feel free to call me during normal business hours at the contact info in our website link below. And please also send your email address and phone number, I'll be excited to help you with all your real estate needs and honored for the business opportunities.
2 votes
The better answer to that question is because the government bailed out the banks!!! And depleted the economy by allowing outsourcing and placing the Country at a bankruptcy level.
Flag Fri Apr 12, 2013
Keith Jean-P…, Agent, East Brunswick, NJ
Wed Apr 10, 2013
1 vote
Irina Karan, Agent, Aventura, FL
Wed Aug 14, 2013
If the person is unemployed and wants to get another profession - there is a process with Florida Workforce where courses are funded : http://www.workforceflorida.com/ResourcesLinks/JobSeekers.php

For those who can't afford their homes - there are different options like loan modification (with possible reduction of the principal - depending on the lender involved), short sales (when you sell under market value with 3rd party (short sale lender) permission, or you can do a Deed in Lieu of foreclosure (giving the keys to the bank if you only have a 1st mortgage)...or file for a bankruptcy - if qualified. You got to check all tax consequences before you make any decisions.
You got to pick a very good real estate attorney (not a bankruptcy attorney - those most likely will only recommend bankruptcy), a good CPA and a good realtor (if you want a short sale).

You can consult an attorney to get more details.
Most first consults are free.
You can even visit a couple of different attorneys - to get a 2nd opinion, so to speak.
If you qualify, there is also legal services provided by non-profits (funded by the government)-they are free http://www.lsgmi.org/

Effective or ineffective government help - that's not so important right now.
Just use what's available for now.
You can also call on your senate reps or the President. They should hear your opinion on the matter because there are many people who can't afford their homes still. I'm not saying we should spend more money - just that maybe the funds are not used as effectively as they should be.

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes
value.advoca…, , Boynton Beach, FL
Sat May 18, 2013
Not much. Lazy owners want to get "free help" from the government, without realizing they are the government, and need to help themselves. One way is to go over to this website:http://valueadvocate.legal-armor.com and read it. Next step is up to you.
0 votes
Kevin and Ju…, Agent, Wildomar, CA
Fri Apr 12, 2013
I'm with you Steven... not the gov't job...
0 votes
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