Pam Marron Home Lending

WE the PEOPLE Petition at WhiteHouse.gov…

July 13, 2012 by · Leave a Comment 

 Thank you for submitting your signature on the White House petition ….    Had a great opportunity to speak to the regional director for Sen. Bill Nelson (D-FL) who offered to take the petition along with additional information to White House staffers on April 13 when President Obama was in Tampa. So, although we didn’t successfully get the 25,000 signatures on the petition, we did succeed in getting the petition where it needs to go after all!

This is not about politics. It IS about helping underwater homeowners and the real estate industry.

Here’s what the petition states:

WE PETITION THE OBAMA ADMINISTRATION TO:

require banks to stop forcing underwater homeowners to default in order to qualify for a short sale!

 Banks are forcing underwater homeowners to default in order to qualify for a short sale, causing these homeowners to be mislabeled as strategic defaulters. (Strategic defaulters are those that can make their mortgage payment but choose not to.)

This bank policy of requiring late mortgage payments before the short sale automatically disqualifies homeowners from getting an FHA mortgage for three years.

Lenders, the U.S. Treasury, FHFA, and Making  Homes Affordable all are aware of this problem. Yet, nothing has been done to correct this policy. This inaction is directly preventing thousands of short sellers from reentering the housing market.

Put a stop to the damaging practice of lenders forcing underwater homeowners to be late on their mortgage in order to qualify for a short sale.”