COVERITLIVE.COM

7:56	GPB - Welcome to the GPB (in partnership with PBA 30 in Atlanta) Facing the Mortgage Crisis Webchat. We'll be getting started shortly, but you can begin sending your questions in now!

7:57

GPB - We have full-time housing counselors from Consumer Credit Counseling Service of Greater Atlanta on hand tonight to help answer your questions. All have college degrees and all have been certified as housing counselors by the National Foundation for Credit Counseling. They also have experience working in the mortgage or real estate industries.

7:58	GPB - Not every question submitted will be able to be answered. Some questions may require a longer, more personalized response. Our panelists will make every effort to answer as many questions as possible as quickly as possible.

8:08	[Comment From Steve ] Why aren't loan modifcation efforts working? Why are we still seeing rampant foreclosures?

8:10	Felicia at CCCS of Greater Atlanta - We are starting to see more and more modifications being done by the lenders. It took a little time for lenders to get ramped up. We are actually starting to see borrowers get interest rates such as 2% in some cases.

8:11	[Comment From Michael Walker ] Is Modifcation a good way to go?

8:12	Mary Ellen at CCCS of Greater Atlanta - A modification can improve the original terms and actually reduce a payment.

8:13	[Comment From Steve ] Felicia... is anyone reporting statistics on levels of modifications?

8:14	Felicia at CCCS of Greater Atlanta - The government is starting to report some statistics. Stay tuned and I think we will start to se more. President Obama is pressing the lenders harder.

8:16	Simone at CCCS of Greater Atlanta - Michael, Your lender can assist you with the forms. You can also seek assistance from local housing agencies. Call us at 1-800-251-2227 or visit us at www.cccsinc.org to see if we have offices in your area.

Page 1 Next >