Greater New Haven CT Real Estate

How Can The Average Homeowner Get Help With Loan Modifications When A Congresswoman Tries To Call & Gets the Runaround?

There are reports all over the news advising homeowners to contact their lenders if they are looking for answers about loan modifications to help avoid foreclosure.

This video speaks for itself as you watch Congresswoman Maxine Waters from California go to bat for three of her constituents and the agonizing runaround she got from their banks. If this is what a member of Congress faces, an average homeowner will find it nearly impossible.

Here's the link to the full story from ABC News

 

Donna Bigda
Licensed Connecticut REALTOR®
10 Pine Orchard Road
Branford, Connecticut 06405

Call Donna at 203-488-1641, ext. 214
Fax 203-315-2127
by email Donna@DonnaBigda.com 
or visit www.distressedhomeownershelpline.com

Certified Distressed Property Expert

 

Mortgage Assistance Relief Services Disclosure

RE/MAX Alliance is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.  If you stop paying your mortgage, you could lose your home and damage your credit rating.  RE/MAX Alliance is not engaged in the practice of law nor gives legal or tax advice.  It is strongly recommended that you seek appropriate professional legal counsel and tax advice for any real estate transaction.

Copyright © 2009 by Donna Bigda, All Rights Reserved ...*How Can The Average Homeowner Get Help With Loan Modifications When A Congresswoman Tries To Call & Gets the Runaround?*

8 comments • Donna Bigda REALTOR® Greater New Haven CT Homes & Condos • May 03 2009 08:32PM

Mortgage Modification Scam Hits Connecticut

 

Via Pat & Wayne Harriman - Wallingford CT Real Estate (The Harriman Team - William Raveis Real Estate):

Snake Oil SalesmanWith over 11,000 homes in foreclosure in Connecticut and more being added every day, it stands to reason that homeowners who are unable to pay their mortgages might be inclined to turn to one of the plethora of loan modification companies who are currently in business. Most are ethical, law-abiding folks who truly have a desire to help homeowners get back in control of their mortgages.

Some are not.   

Attorney General Richard Blumenthal is warning Connecticut homeowners about one such company, H.O.P.E. Alliance, Inc. He and U.S. Representative Joe Courtney are investigating complaints about the Cheyenne, Wyoming-based company alleging deceptive practices in offering a bogus mortgage rescue deal to desperate and unsuspecting consumers. According to the complaints, H.O.P.E. Alliance is using the similarity of their name to another mortgage modification group, the Hope Now Alliance, to persuade homeowners to use their services. The big difference is that the Hope Now Alliance is a reputable, government-backed non-profit that legitimately helps people with loan modifications. H.O.P.E. Alliance is also requiring its customers to pony up a "good faith payment" of $1,500 to ensure their participation. On the other hand, The Hope Now Alliance is totally free to the consumer and charges no up-front fees for participation.

At least two homeowners have been duped into using the services of the H.O.P.E. Alliance with disastrous results. After paying the $1,500 fee, they were left in the lurch by the company and are now close to losing their homes. AG Blumenthal has now issued a demand to the company for information regarding their services and representations made to customers, their corporate structure and also a list of their clients in Connecticut.

Mortgage and debt reducing services are largely unregulated and Blumenthal is proposing legislation that would force these companies to disclose their fees and services in advance and prohibit advance fees. He advises homeowners to be wary of mortgage modification companies that make promises that sound too good to be true or who require a large fee up front for their services. These kind of snake oil salesmen give the entire industry a bad name and can leave you and your family literally out in the cold. Don't fall for their underhanded schemes.

If you need mortgage counseling, you can contact the legitimate Hope Now Alliance at 1-888-995-HOPE (4673) or at their web site, HOPENOW.com.

 

Mortgage Assistance Relief Services Disclosure

RE/MAX Alliance is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.  If you stop paying your mortgage, you could lose your home and damage your credit rating.  RE/MAX Alliance is not engaged in the practice of law nor gives legal or tax advice.  It is strongly recommended that you seek appropriate professional legal counsel and tax advice for any real estate transaction.

8 comments • Donna Bigda REALTOR® Greater New Haven CT Homes & Condos • February 23 2009 03:43PM

Connecticut State, Municipal & Private Sector Employees UR Home Ownership Program in New Haven

If you are a Connecticut state, municipal employee or employee of a participating private sector company* in the city of New Haven Connecticut, the Urban Revitalization Home Ownership Program also know as UR Home is available from the State of Connecticut in conjunction with CHFA.new home

This Connecticut Housing Finance Authority (CHFA) UR Home Program** offers eligible employess to purchase a single or multi-family (2-4 units) at a reduced CHFA mortgage rate and with down payment assistance.  If a property requires improvements or repairs the program also offers a forgivable grant of $20,000 to $25,000 to rehabilitate the home that is 100% forgiven after 5 years.

An added benefit of the UR Home Program is that it does not require participants to be a first-time home buyer.

In additon to New Haven*** other targeted areas participating in this program are Bridgeport, Hartford, New London and Waterbury***.

I would welcome the opportunity to assist you in the purchase of your new home in New Haven and have outlined the following steps you should take to move forward in the process.

  1. Please call me at 203-488-1641, ext. 214 or e-mail me to set up a no obligation initial consultation.
  2. After our initial consultation, you will need to set an appointment with a participating UR Home lender who is knowledgeable with all facets of the program.
  3. Once you have been pre-approved from the mortgage lender, we will put together a list of properties available in New Haven to preview.
  4. When you find the home you want to buy, I will sit down with you to write and explain the purchase sale agreement and negotiate on your behalf for a price and terms that are acceptable to you.
  5. Upon receipt of a signed, accepted offer, I will guide you through the home inspection, appraisal and any other deadlines to be met to protect your earnest money deposit.
  6. After the contract contingencies have been satisfied and you receive formal mortgage commitment, I will work with your real estate attorney to schedule a closing date and be there with you as you sign the documents and take ownership of your new home.

*  Private sector employer agrees to make a contribution towards their eligible employees' downpayment  and/or closing costs.

**  Certain eligigiliby, income and credit requirments may apply.

***  Not all employers, agencies and munincipalities in the target area may be participating.

*** Please note that UR Home Loans will be availabe on a first-come first-serve basis.

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Contact Donna Bigda, ABR, SRES, e-PRO, Realtor®, RE/MAX Alliance Licensed Realtor® in the State of Connecticut at 203-488-1641, ext. 214 to list your property for sale or to purchase a property in Branford, Guilford, Madison, East Haven, New Haven and the rest of shoreline area in New Haven County Connecticut.

If you're thinking about buying a home in New Haven CT there are plenty of great buys in today's market and now is one of the best times to buy while interest rates remain low. For more information on New Haven CT real estate homes or condos, see New Haven CT real estate or sign up today to get access the hottest new listings here New Haven CT homes and condos. 

Disclaimer:  All information provided by this author is strictly an opinion, is not guaranteed, may be based on information collected from several sources, which may or may not be deemed reliable at the time of researching this article and may be time sensitive.

Copyright © 2008 by Donna Bigda, All Rights Reserved ...* Connecticut State, Munincipal & Private Sector Employees UR Home Ownership Program in New Haven*

2 comments • Donna Bigda REALTOR® Greater New Haven CT Homes & Condos • August 24 2008 06:17PM