No Relief for Homeowners
http://thekojonnamdishow.org/shows/2011-04-04/no-relief-homeowners
As housing prices continue to fall and foreclosures mount, the government program meant to help address the mortgage crisis, the Troubled Asset Relief Program, or TARP, is winding down. Flaws in the program meant that very few homeowners received assistance, and most of the billions allocated to refinance mortgages went unspent. We assess the program and explore why Congress is unlikely to offer any new help to homeowners.
Guests
John Taylor
President and CEO, National Community Reinvestment Coalition
Joe Schatz
Senior writer with Congressional Quarterly covering economic policy and politics on Capitol Hill.
Bill Longbrake
Executive in Residence, Center for Financial Policy, University of Maryland’s Smith School of Business
Comments
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I am a former homeowner in Jacksonville, Fl. Was battled Wells Fargo bank, foreclosure-mill lawyers Shapiro & Fishman, and the court system of Florida for five[5] years. I and my two middle school aged boys were evicted from the home of ten [10] on 3/21/11.
We have gone from an 1850 sq. ft home to a 805 sq. ft. apartment.
Over of embattlement with Wells Fargo, I was granted a mortgage modification in 2008. Wells Fargo then revolked the modification after I'd made payments, 4 months later.
I spent 2 years seeking Wells Fargo reinstate the modification, and seeking justification through the Florida courts.
It is in my opinion that in Florida, the Big Banks, foreclosure-mills lawyers, and the "judicial" system are in a corrupt cooperation to make sure that homeowners are never in possesion of their homes.
In my former neighborhood of less than 35 homes, 2 were foreclosed and evicted by Wells Fargo.
That's not a coincidence. It's an epidemic. An Epidemic of Greed.
-Cynthia Jones
Jacksonville, Fl
soon to return to my home state of Texas