Vista Mortgage Group Blog

It has been a long time since my last post.  After my Mother passed away (2+ years ago), I felt like the air had been knocked out of me.  To make things worse, the continuing decline in our economy and housing markets left me very disheartened.  I kept hoping that our new administration would find the "key" to really turn things around quickly, but that is not what I found.

I continually received calls from homeowners who were searching for information about their "options"; which were limited and unfortunately, not well-publicized.  Programs for helping homeowners were spotty and apparently, left to the complete discretion of the lenders and loan servicers, who were not well-organized, nor overly willing to help people stay in their homes. 

I have heard many stories about the frustrations of trying to get a "loan modification" through a lender, only to finally give up and turn over the keys.  Or lenders who were unwilling to accept a reasonable "short sale"; which caused owners to be forced out through a foreclosure.  MANY of these homeowners jumped through the lenders' hoops repeatedly, only to have the story and requirements change with each new person that they had to talk to.  One homeowner told me that they were required to document their income, assets, liabilities, job situations and personal hardships (which is to be expected) EVERY MONTH FOR A YEAR, before their lender finally "allowed" them into a "3-month trial" modification and after the first month, the lender stopped accepting their payments and RAISED THEIR INTEREST RATE!

Where is the common sense!?!  Where is OUR bailout?!?

There are actually counselors and advocates available (who are not trying to "sell" you something) that will help you through the process.

If you are struggling and want a no-obligation assessment of your options, you can contact our office and we can do the preliminary analysis to determine whether or not you would be eligible for a TARP refinance.  If not, we can point you in the right direction to work toward a "modification"; which, by the way, you should NOT have to pay for!