As the foreclosure crisis continues and the federal modification programs announced by the federal government continue to not function properly, new programs are being announced to try and respond to the crisis. The latest program, which was announced on November 30, 2009 is the Home Affordable Foreclosure Alternatives Program. As the title suggests, the program seeks to provide alternatives to lenders other than filing foreclosure.
One of the most frustrating problems for homeowners, realtors, attorneys and any person involved in the foreclosure/mortgage crisis is the inability of lenders and servicers to respond to inquiries or requests from consumers. It’s bad enough that lenders can’t keep track of documents or information sent in by consumers, they cannot, in most cases make reasonable decisions or offer modifications.
When a modification cannot be offered, the lender needs to effectively and efficiently pursue alternatives to foreclosure. Those alternatives are described in detail in the attached program guidelines.
For more information and to see how to resolve your foreclosure or mortgage problem, contact Matt Weidner at www.mattweidnerlaw.com.