The Mortgage Crisis” and Saving Your Home

For millions of home owners, the activities of the banks and mortgage companies has led to foreclosures, pain and shame.

What this means is: There is a very good chance that the situation you’re in, with foreclosure notices and fear of losing your home, was no caused by things that you had control over.

At Hope 4 Home, complaints are heard every day form homeowners who have been trying to pay their mortgages, but some hidden clause or strange twist in their loan has caught them in a place they don’t want to be. Then Hope 4 Home review each case and solves the problem.

Blind’ Bankers and the Ignorance of Greed

There is an old adage, “Bad planning on your part does not constitute an emergency on my part.”

In the mortgage crisis, there were plenty of reasons to believe that the banks and mortgage companies should have and often did foresee the upcoming crisis.

How the crisis evolved?

At the beginning of the housing boom, several different elements intersected to eventually lead to the largest economic meltdown since the Great Depression of the 1930’s.

According to Hope 4 Home reviews, large scale deregulation of the banking industry lead to the creation of derivative investment tools so complex, even the people using them weren’t sure how they worked. Deregulation also allowed the same banks that wrote the mortgage to take those to the investment market and bet on them. They began using the mortgages as a chip to buy and sell, bet for and against and generally mess with the money.

One of the Hope 4 Home complaints that one hears most is that they aren’t even sure who owns they home loan. In fact, according to several Hope 4 Home reviews, the courts stopped some foreclosures simply because no one could tell the bank definitively who held the note on the loan.

Loan money became very cheap. Couple that, according to another Hope 4 Home review, with the problem that many mortgage officers were being paid for volume and wanted to write as many loans as possible. Many of them falsified incomes, changed the value of homes and generally fudged the numbers so that they could get the mortgage through and get paid. Hope 4 Home and complaints and solutions are all part of how business is done.

As long as home prices continued to increase, foreclosures were not an issue. As soon as everyone began to realize that there were too many home and that they weren’t really worth as much as they were selling for, the bottom dropped out of the whole thing.

It ended up costing US taxpayers nearly a trillion dollars and countless home foreclosures. At Hope 4 Home, complaints about having to bail out the banks are common, and justified.

Getting out of the tiger’s mouth

According to Hope 4 Home reviews, most homeowners can have their home and their mortgages saved. As long as the home hasn’t sold, there is still a chance that the bank will allow the home owner to modify their loan and retain their home, their credit rating and their dignity. When you sit down with Hope 4 Home, complaints are allowed and welcomed.

When talking to people at Hope 4 Home, complaints come in constantly about how consumers have no idea who to talk to at their bank. They’ll call the person that sold them the mortgage and that person can’t help. Some giant anonymous division is now handling the loan and no one knows what to do for them.

When Hope 4 Home reviews each individual account, they not only look for ways to help a homeowner modify their loan, they also look for places where the mortgage companies might have gone awry. They can then refer the loan to their Attorney General for action or inclusion in large scale lawsuits designed to get justice for the homeowner and the American people.