Spoke with a client today who was concerned that his lender is playing a waiting game with him. He wanted to know if he too, should wait until after the Obama Stimilus Plan comes into effect. He feels that because he is not behind on his mortgage, the lender is not treating his application for mortgage loan restructuring/modification with any sense of urgency.
It appears that homeowners all over are waiting for the same development - their faith seem to rest in the belief that the newly elected President will make things right for all and sundry. This may have some element of truth in it - but one needs to factor the politics of Washington into the mix, and that is something that most homeowners are failing to recognize. Tomorrow we will discuss the politics of the stimulus and its possible eventual effect on the homeowner trying to modify their mortgage.
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