Few Homeowners See Benefit From National Mortgage Settlement, Three Months Later

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Few Homeowners See Benefit From National Mortgage Settlement, Three Months Later

Few Homeowners See Benefit From National Mortgage Settlement, Three Months Later

If you’re still waiting for help, You’re behind the banks after they get trillions more in bailout money via you, the taxpayers. Oh and almost forgot to mention you’re also behind on the billions the Fat CEO’s are lining up to make off this fraud.

So three month is ONLY the beginning.

HuffPO-

If 76-year-old Gloria Schrager lives to be 100, she will get the worst birthday present ever: a bill from JPMorgan Chase for $199,052.

Schrager was behind on her mortgage payments and in danger of losing her Orlando home to foreclosure. Under a modification plan offered by Chase, the Peruvian immigrant’s payments are much more affordable. But she feels like the house she has lived in since 1985 isn’t really hers anymore. Rather than forgiving a portion of her debt as she requested, Chase modified her loan so that most of her principal would be due in one gigantic balloon payment at the end of the loan’s term.

“It is a painful thing at the very end to have balloon payment,” said Schrager, who lives on her Social Security checks and by working part time for $9 an hour at a medical clinic for children with autism and Down syndrome. “It’s like I am paying rent on this house, but if something breaks, I cannot call the landlord. I am so scared that I am going to get sick and not be able to keep up” with the payments.

[HUFFINGTON POST]

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