http://occupyatlanta.org/2011/11/13/occupy-atlanta-and-occupy-gwinnett-actions/ We are the 99% We will no longer remain silent! Wed, 07 Mar 2012 13:48:25 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://occupyatlanta.org/2011/11/13/occupy-atlanta-and-occupy-gwinnett-actions/#comment-236 SteveT Wed, 16 Nov 2011 03:56:09 +0000 http://occupyatlanta.org/?p=751#comment-236 To build on what Richard said: In a foreclosure they can get the PMI (Personal Mortgage Insurance) to pay the whole loan, plus get the house. It's a profitable game. To build on what Richard said: In a foreclosure they can get the PMI (Personal Mortgage Insurance) to pay the whole loan, plus get the house. It’s a profitable game. ]]> http://occupyatlanta.org/2011/11/13/occupy-atlanta-and-occupy-gwinnett-actions/#comment-230 richardvs Tue, 15 Nov 2011 03:11:08 +0000 http://occupyatlanta.org/?p=751#comment-230 Not only is it not the first time, but it's actually happening to thousands and thousands of homeowner in the country. Loan servicers have no interest in helping homeowners with the HAMP program because it's not profitable for them. So they make them believe that in order to be eligible for HAMP they have to show hardship and they have to miss payments on their mortgage. And when homeowners do that, the servicers immediately start foreclosure, which is much more profitable for them. It's a scam. It's widespread, and they are getting away with it. Not only is it not the first time, but it’s actually happening to thousands and thousands of homeowner in the country. Loan servicers have no interest in helping homeowners with the HAMP program because it’s not profitable for them. So they make them believe that in order to be eligible for HAMP they have to show hardship and they have to miss payments on their mortgage. And when homeowners do that, the servicers immediately start foreclosure, which is much more profitable for them. It’s a scam. It’s widespread, and they are getting away with it. ]]> http://occupyatlanta.org/2011/11/13/occupy-atlanta-and-occupy-gwinnett-actions/#comment-229 SaraA Mon, 14 Nov 2011 18:21:04 +0000 http://occupyatlanta.org/?p=751#comment-229 It was false information given by the loan servicer, which they believed. Why wouldn't they? This is not the first time that has happened...nor is it likely to be the last. It was false information given by the loan servicer, which they believed. Why wouldn’t they? This is not the first time that has happened…nor is it likely to be the last. ]]> http://occupyatlanta.org/2011/11/13/occupy-atlanta-and-occupy-gwinnett-actions/#comment-227 jamienye Mon, 14 Nov 2011 18:14:43 +0000 http://occupyatlanta.org/?p=751#comment-227 I remain unclear on precisely what the Rorey family's situation is. I understand that this family has stable income but missed a payment intentionally in hopes of qualifying for a modification. Why was this necessary, when homeowners without delinquency can refinance at today's rates (e.g. why did they feel they needed a modification)? I don't want to assume that these folks were trying to "game the system," but the limited information available makes it seem that way. I remain unclear on precisely what the Rorey family’s situation is. I understand that this family has stable income but missed a payment intentionally in hopes of qualifying for a modification. Why was this necessary, when homeowners without delinquency can refinance at today’s rates (e.g. why did they feel they needed a modification)?
I don’t want to assume that these folks were trying to “game the system,” but the limited information available makes it seem that way. ]]>