Obama's Foreclosure Plan » lender rules http://www.obamaforeclosureplan.com Lets see how and if this Obama housing plan works Thu, 05 Aug 2010 19:37:06 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Obama administration tweaks program to address shortcomings http://www.obamaforeclosureplan.com/obama-administration-tweaks-program-to-address-shortcomings/ http://www.obamaforeclosureplan.com/obama-administration-tweaks-program-to-address-shortcomings/#comments Sat, 27 Feb 2010 02:34:41 +0000 Mark http://www.obamaforeclosureplan.com/?p=252 Cases where lenders continues with foreclosure proceedings despite homeowners remaining under evaluation will be banned under new rules being reviewed by the Obama administration.

The changes reflect the continuing pressure that the administration is feeling to keep the HAMP program on track in the face of growing complaints that the bureaucracy and back-stabbing at the heart of the program are limiting its effectiveness.

Also under the revised rules, homeowners will have 30 days to appeal a rejection and during that time, lenders cannot conduct a foreclosure sale.

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