An Open Letter to Barbara Boxer Re: Helping Responsible Homeowners Act of 2011 Dear Senator Boxer: I want to begin by thanking you for your efforts to help resolve the housing crisis that has been plaguing this country since 2008. There has been a surprising lack of leadership from both parties to address this critical issue so I greatly appreciate the recent strides you have made to provide some relief to our beleaguered homeowners. While I fully support the “Helping Responsible Homeowners Act of 2011”, in concept (in fact, this proposed legislation appears to be very similar to an idea that I have been supporting and wrote about on Benzinga.com in November of 2010)(See here)
I strongly believe this program needs to be expanded to include non-Freddie and Fannie loans in order to stave off both forced and strategic defaults which will surely occur in 2011 in the absence of such a program. I look forward to learning the details of your plan and sincerely hope that it does not leave out all of the non-GSE borrowers that also are deserving of assistance. I am a loan officer in a family-run business that has been providing mortgage services for Californians since 1987. I would be more than happy to share with you a real world perspective on the housing situation as we see it from the street. As I am a long-time Republican, I'm sure we disagree on many issues. In the spirit of bipartisanship however, and with the desire to do what is best for our country, I offer my assistance to you to fully develop this program into one that not only will pass both sides of congress but will also provide troubled borrowers with the help that they have been waiting for. I invite you to contact me. Very truly yours, Logan MohtashamiLogan Mohtashami is a senior loan officer in his family run Mortgage Company, AMC Lending Group, which has been providing mortgage services for California residents since 1987. LoganMohtashami.com
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