HUD Reprimands Republicans
HUD Reprimands Republicans
HUD Reprimands Republicans
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March 15, 2011 (Jeff Alan)
mortgage-republican-bb-image
Although the Republicans efforts to end the Obama Administrations anti-foreclosure programs will probably never see fruitation, the Department of Housing and Urban Development (HUD) has sounded off on the Republicans efforts to end the programs as “irresponsible.”

“The Obama administration is committed to helping struggling homeowners stay in their homes and taking the steps needed to stabilize the housing market, and ending this program would mean the loss of an important lifeline for those families and risk damaging the fragile recovery we’re finally starting to see in the housing market,” a HUD spokesperson said. “It would be irresponsible and should be opposed.”

So far the House has passed two bills terminating the Federal Housing Administration’s (FHA) Short-Refi program, which refinances underwater borrowers out of negative equity, and HUD’s Emergency Homeowner Loan Program (EHLP), which provides interest free loans to the unemployed borrowers for help on their mortgage payments.

Two more bills will reach the floor this week, which would end the Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP).

“The Emergency Homeowners Loan Program will provide relief to tens of thousands of families who are still struggling to make ends meet after the deepest economic recession and housing crisis in a generation,” the HUD spokesperson said Friday after the bill passed.

None of the bills are expected to be taken up by the Democrat controlled Senate and President Obama has already said that any such bill that reached his desk would be vetoed.

However, Republicans are determined to push for an end to these programs because they say that the programs have shown overwhelming poor results, are a waste of taxpayers money, and that the U.S. can no longer afford them.

“The money from this program doesn’t go to the homeowner, it goes to the lender, it goes to the banks. And who pays for it? The taxpayers and ultimately our children and grandchildren because the federal government borrows 42 cents of every dollar it spends,” Rep. Spencer Bachus (R-Ala.) said of the FHA Short Refi program.

Rep. Jeb Hensarling (R-TX) said this sort of spending will “drive this country off a cliff.”

Tags: HUD, Republicans, irresponsible, anti-foreclosing programs, housing market, struggling homeowners, FHA, HAMP, EHLP, Short-Refi, NSP

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Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

March 15, 2011 (Jeff Alan)
mortgage-republican-bb-image
Although the Republicans efforts to end the Obama Administrations anti-foreclosure programs will probably never see fruitation, the Department of Housing and Urban Development (HUD) has sounded off on the Republicans efforts to end the programs as “irresponsible.”

“The Obama administration is committed to helping struggling homeowners stay in their homes and taking the steps needed to stabilize the housing market, and ending this program would mean the loss of an important lifeline for those families and risk damaging the fragile recovery we’re finally starting to see in the housing market,” a HUD spokesperson said. “It would be irresponsible and should be opposed.”

So far the House has passed two bills terminating the Federal Housing Administration’s (FHA) Short-Refi program, which refinances underwater borrowers out of negative equity, and HUD’s Emergency Homeowner Loan Program (EHLP), which provides interest free loans to the unemployed borrowers for help on their mortgage payments.

Two more bills will reach the floor this week, which would end the Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP).

“The Emergency Homeowners Loan Program will provide relief to tens of thousands of families who are still struggling to make ends meet after the deepest economic recession and housing crisis in a generation,” the HUD spokesperson said Friday after the bill passed.

None of the bills are expected to be taken up by the Democrat controlled Senate and President Obama has already said that any such bill that reached his desk would be vetoed.

However, Republicans are determined to push for an end to these programs because they say that the programs have shown overwhelming poor results, are a waste of taxpayers money, and that the U.S. can no longer afford them.

“The money from this program doesn’t go to the homeowner, it goes to the lender, it goes to the banks. And who pays for it? The taxpayers and ultimately our children and grandchildren because the federal government borrows 42 cents of every dollar it spends,” Rep. Spencer Bachus (R-Ala.) said of the FHA Short Refi program.

Rep. Jeb Hensarling (R-TX) said this sort of spending will “drive this country off a cliff.”

Tags: HUD, Republicans, irresponsible, anti-foreclosing programs, housing market, struggling homeowners, FHA, HAMP, EHLP, Short-Refi, NSP

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

March 15, 2011 (Jeff Alan)
mortgage-republican-bb-image
Although the Republicans efforts to end the Obama Administrations anti-foreclosure programs will probably never see fruitation, the Department of Housing and Urban Development (HUD) has sounded off on the Republicans efforts to end the programs as “irresponsible.”

“The Obama administration is committed to helping struggling homeowners stay in their homes and taking the steps needed to stabilize the housing market, and ending this program would mean the loss of an important lifeline for those families and risk damaging the fragile recovery we’re finally starting to see in the housing market,” a HUD spokesperson said. “It would be irresponsible and should be opposed.”

So far the House has passed two bills terminating the Federal Housing Administration’s (FHA) Short-Refi program, which refinances underwater borrowers out of negative equity, and HUD’s Emergency Homeowner Loan Program (EHLP), which provides interest free loans to the unemployed borrowers for help on their mortgage payments.

Two more bills will reach the floor this week, which would end the Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP).

“The Emergency Homeowners Loan Program will provide relief to tens of thousands of families who are still struggling to make ends meet after the deepest economic recession and housing crisis in a generation,” the HUD spokesperson said Friday after the bill passed.

None of the bills are expected to be taken up by the Democrat controlled Senate and President Obama has already said that any such bill that reached his desk would be vetoed.

However, Republicans are determined to push for an end to these programs because they say that the programs have shown overwhelming poor results, are a waste of taxpayers money, and that the U.S. can no longer afford them.

“The money from this program doesn’t go to the homeowner, it goes to the lender, it goes to the banks. And who pays for it? The taxpayers and ultimately our children and grandchildren because the federal government borrows 42 cents of every dollar it spends,” Rep. Spencer Bachus (R-Ala.) said of the FHA Short Refi program.

Rep. Jeb Hensarling (R-TX) said this sort of spending will “drive this country off a cliff.”

Tags: HUD, Republicans, irresponsible, anti-foreclosing programs, housing market, struggling homeowners, FHA, HAMP, EHLP, Short-Refi, NSP

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.