Tuesday, October 19, 2010

2010 Foreclosure Mess - Homeowners are not to Blame

Recently, the message about the 2010 foreclosure mess has changed. Somehow, homeowners are now the bad guys. They are the new scapegoats for the foreclosure mess. Now borrowers who are delinquent on their mortgage payments are being viewed as ” trying to get their home for free without a mortgage.” I believe the focus should also be on the banks and other mortgage servicers who failed to provide the required homeownership counseling, including default counseling, when a borrower was in trouble as is required under their own documents and federal law. I don’t know if the message change is the result of the bank’s p.r. or just confusion caused by information overload. Either way, its troubling.

Read the rest of the story here:

Homeowners Are Not to Blame for the 2010 Foreclosure Mess