This is a exciting new trend, and is great news for the housing and mortgage lending industry as well as the American Homeowner and the American economy. The big question now is will it hold?
Though it would be more then unwise to assume all is well in the financial markets and economy, there is no denying that the financial news reporting this three month trend is indeed a trend. There are some concrete signs of stability and a bottoming out in terms of foreclosures. Even so there is still a long way for the economy and America to go before it is time pat ourselves on the back and claim that the recession and all the financial hardship it keeps as close company is all behind us. We still have some major ground to cover.
Broader Financial Hit List:
- Debt Help and Debt Solutions
- Job Creation
- Small Business Lending
- Credit Card Debt
- Housing and Foreclosure
- AIG and the like
- Automotive Industry
Though there is a ways to go before we are financially "in the clear" if there is such a thing, we must not overlook the foreclosure hope that this three month trend of less and less foreclosures. We should give credit to President Obama and his administration for inspiring the Nation's lenders and mortgage services to embrace and apply the Making Home Affordable Loan Modification and Mortgage Refinance Plan with the dedication and dignity that they have. it has been this collective partnership and ability to work together that has led to the apparent economic turnaround.
Homeowners are now able to obtain a restructured mortgage agreement today faster then just three months ago. That's not all. These loan modifications are three times more likely to reduce mortgage principle.
Let us hope that we can keep the momentum going.
Related Articles
Simple DIY Credit Card Debt Management Plan
Calculate Current Mortgage Payment For The HAMP Application - Obama Modification Program
No comments:
Post a Comment