Sunday, May 17, 2009
Are you receiving the assistance for foreclosure intervention as intended through the Hope for Homeowners program? Is the agency providing "start to finish" work or is the homeowner being left to finish the job?
There have been 77,000 new foreclosures in 2009 thus far. It is projected by the Center for Responsible Lending that there will be 2.4 million foreclosures by the end of 2009 and 9 million within the next 4 years. In a Subcommittee hearing on ‘The Role of NeighborWorks and Housing Counseling Intermediaries in Preventing Foreclosures' held May 13, 2009, Representative Emanuel Cleaver (MO) stated that this is the "most significantly depressed moment in US history - financially - since October 1929. This is the great recession." He also pointed out that with the rising unemployment, foreclosures will continue to be a problem.
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