A Walk Down Memory Lane With President Obama & the Mortgage Crisis
Can you remember all the way back to last February when President Barack Obama introduced his plan to stem the foreclosure crisis thus contributing to the stabilization of the U.S. economy and saving our way of life as we knew it? I know, it seems like 100 years ago. But think back.
Don’t stop now… here’s part two… where it gets really good…
Now think about where we are today. The cold, hard truth is that the President of the United States has made promises to homeowners in this country about the nature and benefits of a federal program that are simply not being met by that program. That may be regrettable, it may be unfortunate, but it’s the truth. It’s what happened.
As a result, homeowners who begin the process of obtaining a loan modification with expectations largely set by the President, are likely to be disappointed at the outcome, regardless the outcome.
When they’ve attempted to obtain their loan modification on their own, they generally end up angry at the banks, the government, and the president himself. When they’ve hired a law firm to help them navigate the process, their anger is often directed at that law firm. It’s sad to say, but in too many instances the only guarantee related to a loan modification is the guarantee that the homeowner will end up, to at least some degree, disappointed.
It’s a bitter-sweet solution, however, because it’s still the best alternative for hundreds of thousands, if not millions of people. And in many ways its only just begun, unfortunately.
The crisis is changing, shifting, and by taking the time to understand why today’s homeowners feel the way they do, you can help them and they can help you. It’s time for loan modification firms to mature, for the turmoil to settle down, and for the people to understand that it wasn’t their fault… and it’s not yours either.
It’s time to call it like it is… and like I’ve been saying… it’s the banks, betches! And soon… everyone will know…
Comments
Comment on this post! (Requires free membership in the Implode-Explode forums!)