Housing aid often too little, too late

Featured in: Arizona Republic

Mar. 8, 2009 12:00 AM

The Obama administration's $75 billion mortgage-relief effort is projected to help as many as 9 million overextended borrowers, including thousands in Arizona.

A follow-up to the report, which covered first mortgages serviced by the nation's nine largest banks and five largest savings and loans, is expected later this month. It will show whether the redefault rate leveled off after six months or continued to climb.

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Housing aid may not help many Arizonans

Featured in: The Arizona Republic

Feb. 27, 2009 12:00 AM

Some called it a step in the right direction, but it would help a limited number of homeowners in Arizona.

"Too many people are placing too much stock in the degree of impact the stimulus plan is, in fact, going to have," said Martin, vice president of Valley loan modification firm the Platinum Group. "This pie-in-the-sky attitude may lull people into a false sense of security."

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Real estate experts say more help needed

Featured in: East Valley Tribune

February 18, 2009 - 5:44PM

""It's a good start, but it's not enough money to help all those who need help," said Letha Martin, owner of Platinum Financial Resources, a Queen Creek-based real estate, mortgage and loan-modification company.

...real estate and banking experts said it's a good sign that the Obama administration at least is wrestling with an enormous problem that is driving down the entire economy.

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