Red Tape Hobbles New Haven Couple Desperate To Keep Their Home Hartford Courant

27.08.11

A federal program launched by the Obama administration designed to help owners avoid foreclosure and keep their homes seemed like a promising opportunity for the young family.

Instead, the Del Pretes have encountered a nightmare of bureaucracy, lost documents, conflicting advice and delays. About $25,000 behind on their mortgage, Sarah Beth and Dan, with three young children, now worry that they will lose their Stevenson Road home to foreclosure.

"We thought our bank was going to help us. We thought Obama is going to help us. We thought, 'OK, we are going to be able to stay in our home,' '' Dan Del Prete told me as we sat in his dining room and sifted through the history of the last year and a half.

"We just wanted to modify our interest rate,'' Sarah Beth added. "We are feeling really frustrated and confused."

Perhaps the Del Pretes bought too much house. Their mortgage interest rate of 6 3/4 percent is pretty high. But asking for a little help seems like a fair proposition in an upside-down financial world in which the banks, insurance companies and auto industry get bailed out. If a young family stays in their home, paying both their taxes and home loan, everybody benefits.

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