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View Diary: Thank You President Obama! I was helped by the $26 Billion Settlement. That's why I'm a Democrat! (280 comments)

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    Nada Lemming

    Homeowners Protest HAMP: 'It's Just A Scam And The Banks Are Getting Everything'

    Judy Stratton said she and her husband Harry have tried since January 2009 to modify the mortgage on their home in Stayton, Ore. after a drop-off in demand for Harry's floor maintenance services. In August, Stratton said, they received a rejection letter from their bank saying they did not qualify for help per the Obama administration's Home Affordable Modification Program.

    "This was a lie -- 100 percent lie," Stratton said. "We ran off the guidelines. We met every single qualification to get a HAMP mod."

    Nevertheless, Stratton said a foreclosure sale is scheduled for Nov. 24 on the home they've lived in for the past 10 years.

    ...President Obama said the program would help three to four million people modify their mortgages. But through September, 728,686 struggling homeowners have been kicked out of the program; just 640,300 remain, the Treasury Department reported on Monday.

    In a separate report on Monday, a federal watchdog said that some people who apply for HAMP "end up unnecessarily depleting their dwindling savings in an ultimately futile effort to obtain the sustainable relief promised by the program guidelines," and that "even in circumstances where they never missed a payment, they may face back payments, penalties, and even late fees that suddenly become due on their 'modified' mortgages and that they are unable to pay, thus resulting in the very loss of their homes that HAMP is meant to prevent."

    Judy Stratton said she has reached out to her congressman and her senators but she doesn't know what to do next. She said, "My gosh -- there's no help."

    "It depends what the meaning of 'is', is"
    Platform of the Neo-Democratic Party
    Speaking out of one side of their mouth for the little guy, their nominal constituency, and the other for the plutocracy, their real constituency.

    by Sanctimonious on Sun Apr 22, 2012 at 10:18:49 AM PDT

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