In the past week, the house financial services committee has approved bills aimed at terminating four mortgage assistance programs including the Home Affordable Modification Program, the Neighborhood Stabilization Program, the Emergency Homeowner Loan Program, and the FHA Short Refinance Program. The House is stating that these programs have only helped a fraction of home owners in need, and is wasting millions of tax payer dollars.
The bills will move to the Senate next. President Obama has already indicated that he will veto the bills if they make it to his desk. Congress could over ride the presidential veto but that is unlikely.
There will certainly be heated debates about this issue. I will keep you posted.
Lisa Scanlon, CSA
941-447-7130
www.scanlonsigningservices.com
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