To: Bank Of America, CEO, President Donald Trump, The Illinois State House, The Illinois State Senate, Governor J.B. Pritzker, The United States House of Representatives, and The United States Senate
Home Loan Modification Law
Make mandatory by law all owner occupied homes undergoing foreclosure the right regardless of credit or income to have a Home Loan Modification at 2% interest only for 10 years, balance 30 year amortized lock at 1% above the fed rate having a lifetime cap of 2.5%, no floor, and also having its underwater negative equity debt forgiven. This would apply to all Fannie and Freddy loans whether originated by them or acquired and would exclude community lenders who did not sell the mortgages on the secondary market.
Why is this important?
Borrowers government bail out program:
HAMP1 and Hamp2 and Department of Justice foreclosure prevention programs are a presidential public relations fruad.
We seek to make Home foreclosure's avoidance mandatory and its qualifications/requirement for its applicants non contingent and enforceable under law.
We seek an immediate freeze on all home foreclosures, a reversal of all home property sold at a foreclosure sale and the return of the property to its rightful owner.
Bank of America and other national lenders are refusing to provide home loan modifications under the HAMP1 and HAMP2 and Department of Justice guidelines because Obama made a typically useless program which has no teeth for its enforcement.
Regardless of how these Loan Modifications programs are defined unless they are non contingent they will never be justly provided.
Therefore we demand a freeze on all foreclosures and the unconditional right of homeowners to receive a home loan modification.
HAMP1 and Hamp2 and Department of Justice foreclosure prevention programs are a presidential public relations fruad.
We seek to make Home foreclosure's avoidance mandatory and its qualifications/requirement for its applicants non contingent and enforceable under law.
We seek an immediate freeze on all home foreclosures, a reversal of all home property sold at a foreclosure sale and the return of the property to its rightful owner.
Bank of America and other national lenders are refusing to provide home loan modifications under the HAMP1 and HAMP2 and Department of Justice guidelines because Obama made a typically useless program which has no teeth for its enforcement.
Regardless of how these Loan Modifications programs are defined unless they are non contingent they will never be justly provided.
Therefore we demand a freeze on all foreclosures and the unconditional right of homeowners to receive a home loan modification.