Investigating the Issues That Affect You Most

Growing Mortgage Frustration Has Some Homeowners Mailing It In

By Lisa Parker
|  Thursday, Mar 11, 2010  |  Updated 12:52 PM CDT
View Comments (
)
|
Email
|
Print
Homeowners ask, "Where's My Help?"

advertisement
Photos and Videos

Homeowners ask, "Where's My Help?"

What's good for the financial world is sometimes difficult to reconcile in the rest of the world as foreclosures and unemployment continue to soar.
More Photos and Videos

Growing frustration with the mortgage industry has some homeowners "mailing it in."
 
It was the news of the week last week, at least as far as the financial world was concerned: JPMorgan Chase reported soaring third-quarter earnings, which was met with glee on Wall Street and credited with pushing the Dow Jones over the 10,000 mark for the first time in a year.

  But what is good news in the financial world is sometimes tough to reconcile out in the rest of the world.
 
In just one case, an unemployed Chicago homeowner says his hopes for getting loan modification help from his bank vanished, along with his savings.  Housing counselors say the reason he was denied by a major bank was improper.

A growing number of homeowners are taking the situation into their own hands instead of asking for help from the loan servicers or the government: mailing in their keys and just walking away from their homes.

Also:  After $75 Billion, Homeowners Ask: Where's the Money?
 

Helpful Resources:

For the IL Attorney General's Office and Homeowner help
http://www.ag.state.il.us/consumers/homeowners_help.html

For CNBC's breakdown explainer of who qualifies:
http://www.cnbc.com/id/29510983

For the US Treasury Department's latest report card:
http://www.treas.gov/press/releases/docs/MHA_public_report.pdf

For the National Consumer Law Center report:
http://www.consumerlaw.org/issues/foreclosure_mediation/content/ReportS-Sept09.pdf

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
Get Our Weather App
Stay ahead of the storm with the NBC 5... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out