So yet again responsible people are not getting help. this woman 63 yrs old lost her job had a good payment history and did not quality for the Gov's mortgage assistance program
MESA, Ariz. — She had seen the advertisements for the new government program offering relief. She had heard
President Obama promise that help was on the way for homeowners like her, people who had lost jobs and could no longer make their
mortgage payments.
But when Eileen Ulery called her mortgage company — Countrywide, now part of Bank of America — the bank did not offer to alter her mortgage.
Rather, the bank tried to sell her a new
loan with a slightly lower monthly payment while asking her to pay $13,000 toward the principal and a fresh $5,000 in fees.
But unlike those in imminent peril of losing their homes, Ms. Ulery had never missed a payment.
A spokesman for Bank of America Home Loans, Rick Simon, confirmed that the bank offered Ms. Ulery refinancing and not loan modification.
Ms. Ulery, 63, is the face of the latest wave of troubled American homeowners, a surge of people in financial danger not because of reckless gambling on real estate, but because of lost income.
http://www.nytimes.com/2009/06/03/bu...html?th&emc=th
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