Getting Tough on Mortgage Lenders Who Won’t Help Homeowners

November 30, 2009

Homeowners facing foreclosure may have a little help on the horizon.  Of course, we’ve all heard that before. The Department of Treasury just announced a new ‘get tough’ policy that will punish mortgage lenders with fines, unless they speed up efforts to help homeowners.

With foreclosures still on the rise, the administration says this is an effort to make sure banks come through on offers to lower payments through mortgage modifications.  Click here to read an article by Reuters on the new effort.

For many homeowners who have been unable to get their mortgage company to work with them, there may still be hope with the “Produce the Note” strategy.  Click here to learn more.