Foreclosure counseling

Yesterday I was listening to 700 am in Cincinnati and heard an ad for Hope Now Alliance which was all warm and fuzzy about helping people facing foreclosure. "Betcha they put them there," was my response to the radio. So today I looked them up. Yessiree, same old gang that put people into homes with "gift" downpayments, and balooning mortgages and probably did no credit checks or background sifting are part of this group, thrown together to get more government money for foreclosure counseling when they were about to loose their sorry as- jobs in the mortgage industry.

So how does a floundering GSE with ties to Congress and in the tank lobbyists for Obama (if no party is mentioned, assume Democrat, because Republicans are usually noted) put on a Santa Claus face?

"Freddie Mac** has instructed its national network of mortgage servicers and foreclosure attorneys to stop all planned foreclosure sales and evictions involving Freddie Mac-owned mortgages during the holiday season.

The move is designed to give more homeowners facing foreclosure or eviction additional time to take advantage of the newly announced streamlined mortgage modification program, says Freddie Mac CEO David M. Moffett.

This should allow homeowners to work out agreements with mortgage services to avoid foreclosure. All foreclosure sales slated from Nov. 26, 2008, to Jan. 9, 2009, will be temporarily stopped. The program applies to single-family and 2-4 unit properties.

Not all these apples are bad, but I wouldn't want to be in the same basket with ACORN and La Raza, one a communist agitation group spoiling many elections with illegal voters, the other wants the SW to return to Mexico.

Members:

ACORN Housing Corporation
Catholic Charities USA
Citizens’ Housing and Planning Association, Inc.
Consumer Credit Counseling Service of Atlanta
HomeFree- USA
Homeownership Preservation Foundation
Housing Partnership Network
Mission of Peace
Mississippi Homebuyer Education Center- Initiative
Mon Valley Initiative
Money Management International, Inc.
National Association of Real Estate Brokers- Investment Division, Inc.
National Community Reinvestment Coalition
National Council of La Raza
National Credit Union Foundation
National Foundation for Credit Counseling, Inc.
National Urban League
NeighborWorks America
Neighborhood Assistance Corporation of America
Rural Community Assistance Co.
Structured Employment Economic Development Co.
West Tennessee Legal Services, Inc.

**Who is Fred? The Federal Home Loan Mortgage Corporation (FHLMC) (NYSE: FRE), commonly known as Freddie Mac, is an insolvent government sponsored enterprise (GSE) of the United States federal government.

The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market. The U.S. government seized control of the mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE), called GSEs, in September 2008, placing the liabilities of more than $5 trillion of mortgages onto the backs of the U.S. taxpayer.