Is the Obama Administration Responsible for Surge in Foreclosures?
on: May 21, 2009, 6:11 am
Author: Jeremy Kossen
surge in foreclosure activity, the creator of the LoanModificationforFree.com
program urges Obama Administration to do more to solve the foreclosure
Santa Barbara, CA – According to the creator of the only
truly free online loan
modification course, the Obama Administration must do more
to address the foreclosure crisis.
a recent blog entitled, “Is the Obama Administration Helping
or Hurting Distressed Homeowners?”, Jeremy Kossen presents
data that suggests that two months after the Administration rolled
out the “Making Home Affordable Program”, there has
been little relief for distressed homeowners.
Kossen cites some unfortunate statistics:
According to a report from the Federal Housing Finance Agency
(FHFA), completed foreclosure sales increased 900 percent between
March and April this year.
• According to RealtyTrac, a company that compiles foreclosure
data, reports that 342,000 households received at least one foreclosure-related
notice last month. This is an increase of 32 percent, compared
with notices issued last April. It is also the second consecutive
month in which more than 300,000 households got a foreclosure
• According to the Wall Street Journal; on April 15th, 2009,
one of the nation’s largest mortgage servicers, GMAC, acknowledged
that only 10 percent of their customers that are facing foreclosure
actually qualify for Obama’s “Making Home Affordable”
Obama Administration should be commended for taking a proactive
approach by promoting loan modification as a tool to prevent foreclosure”,
says Jeremy Kossen. “But more needs to be done and the administration
needs to be honest with the American people about who can realistically
be helped with ‘Making
Home Affordable’. Thus far, the program has helped far
fewer people than promised.”
enable distressed homeowners to negotiate their own loan modifications,
LoanModificationForFree.com offers a free seven lesson course
covering all aspects of the loan modification program and information
on the Obama Administration’s “Making Home Affordable”
program. The only requirement to participate is the completion
of a brief, one page application, at which point the homeowner
is immediately provided with a username and password which gives
them access to the full loan modification program.
LoanModificationForFree.com is the only truly free
online loan modification course, designed to educate distressed
homeowners on strategies to stop foreclosure and obtain a loan
modification. LoanModificationForFree.com, like other free online
resources such as Google, Yahoo! and Facebook is funded by advertising
and does not charge homeowners a fee for this service.
To learn more about LoanModificationForFree.com call (805) 617-0506
or visit www.LoanModificationForFree.com.
Contact Details: 1806 Cliff Dr. Suite F Santa
Barbara, CA. 93109