Blog

Loan Modification Through Nonviolent Terrorism Against Banks

Posted by Marcelo Da Silva on October 2, 2009 at 8:23pm

I came across an interesting article in my local newspaper, Arizona Republic, promoting a free loan modification event that will be held through October 5th at the Phoenix Convention Center. It's part of the "Save The Dream Tour" being promoted by Neighborhood Assistance Corporation of America a non-profit advocacy HUD certified couseling agency. According to the agency everyone who qualifies leaves the event with a modified loan which could include not only interest terms modified but also a principal reduction. Inquired how this is possinble, Bruce Marks, Chief Executive Officer, states "It's basically nonviolent terrorism against banks". What do you think?

hud, loan, modification, non-profit

E-mail me when people leave their comments –

You need to be a member of REO Pro Network to add comments!

Join REO Pro Network

Comments

Genaro Pulido November 3, 2009 at 4:07pm

We need to exclude the word terrorism from our vocabulary. I think we need to talk about solidarity instead.
Karen Turney October 8, 2009 at 10:05am

I saw the lines for this event, did anyone hear if there were any sucessful loan mods done?
John Severino October 5, 2009 at 6:38am

I think it's about time. As a loan officer I have told my clients that loan modifications are all but impossible to get and that I do not support the idea of paying 1500 to 3000 up front to get it done. I have also advised that they will not be able to do it on their own without an act of God. I don't love the idea of modifications in general but it's better than foreclosure right now as it seems the banks are holding on to all they have. Maybe they should release some homes so we can kick the economy.
Richard Zaretsky October 3, 2009 at 7:53am

It a crock of bull, is not only what I think, it is what I see every day.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader.
Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com.
See our easy to understand articles at:
TABLE OF CONTENTS - SHORT SALE AND LOAN MODIFICATION ARTICLES

http://day.Be/

See related links to what you are looking for.