Mortgage default navigation - where is HOPE
I work with homeowners in foreclosure and have had difficulty finding lenders who participate in the HUD HOPE for Homeowner program. I am sure they are out there. Any leads?
Overall, my work is showing that about half of the borrowers in foreclosure are now serious about debt reduction, and have thrown out credit cards, eliminate debt and are scared to death. They send in 2 months payment, bank kicks it back and asks for 3. They then send 3 and bank wants 4.
The other half - watch out. They lied to get the house, run up debts and are waiting for help from the new president. They plan to file bankruptcy and delay until the last minute before the day of reckoning. Professional moochers.
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