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Myths And Misinformation On Afordable Housing Program |
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Written by Randy Brock
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Wednesday, July 01 2009 |
Bucks County Congressman Patrick Murphy says his office has received hundreds of complaints from people who called their mortgage companies to discuss the federal Making Home Affordable program.
“This plan offers both refinance and modification options with certain eligibility requirements, but some mortgage providers are mistakenly claiming that a person must be in default before they are eligible for any assistance. This is completely untrue.”
In fact, he says, being in default would disqualify them for refinancing under the program. Kevin McNamara of Chalfont says his wife, Catherine Beach (both pictured below), called their bank about the program and got both misinformation and the runaround.
“You go through multiple people when you get on the phone, and then they switch you to different phone numbers, and you speak to roughly about six people each time you call, and it’s just an endless circle, and there is no way out of it, and the same information is constantly given.”
McNamara says he works two full-time jobs in the security field, and he always pays his bills on time, but things are a little tight since his wife quit working to stay home with their two children, and they would like to refinance at a lower interest rate.
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