January 21, 2018

Brakes go on Foreclosures

Finally, after months of stalling and scaring homeowners who have fallen behind in their mortgage payments, a number of banks including JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc have announced they will hold stop foreclosing on homes for 90 days. In an article published in Business newspapers including Business First of Louisville the banks say they will stop foreclosures while the federal government works out a plan to stabilize the nation’s banking industry.

Well it’s about time. As certified distress property real estate agents with a C.D.P.E designation at RE/MAX properties east, my wife Norine and I arehelping a number of home owners who have lost jobs, gone through divorces or have medical problems. Even with those problems many banks have continued to call send demanding letters and piled on hundreds of dollars of fees to homeowners mortgages.

Does anyone in the banking industry understand the impact they have on a family in need of help? Do any of the executives in these banks care about people? Or do they care only about their yearly bonuses?  

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