Topic: The Obama Loan Modification Plan (
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Here are the latest comments from our readers about The Obama Loan Modification Plan.
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by Cd on 4/2
Just found out that Obama's loan modification will allow only up to 106% of the worth of the house/condo/townhouse.
Basically, most people will still not be able to lower their mortgage because times are so bad, for example, my place is worth 105, 000 I owe 152, 000 which means I would need a loan modification of 146% (approx.) and we are just about average compared to most home owners.
Interesting to see just how many people this plan really saves.
(Reply)
by lb, replying to Cd on 27-Jun-09 01:47 PM
interesting.
I found this information useful.
(Reply)
by Jean Joubert Mathon on 3/18
I have a brother whom, He is about to loose his home. think god, that I love to research over the computer.Thony-Louis/Tele{203} 873-0033 Or {203] 873-0033.#348-M... wife Yolene-Louis.They are having some conflicts.
I will love for you to assist them for me. Thank you in advance.! God bless you. if you need my E-mail mathonjean at yahoo.com
(Reply)
by woodring, replying to Jean Joubert Mathon on 18-Mar-09 06:08 PM
Where does your brother live?
Perhaps I can have a mortgage broker in his area give him a call.
(Reply)
by Saint-jean Jean-pierre on 3/14
SAINT-JEAN JEAN-PIERRE
NATIONS FUNDING SOURCE, Inc.
5049 WEST OKEECHOBEE Blvd.
WEST PALM BEACH Fl. 33417
TEL # 1-727-224-0422
FAX # 1-877-884-9601
WWW.NFSITE.COM
(Reply)
by Jean Sylvestre on 3/14
how is obama loan manification work
(Reply)
by Chantal on 3/14
You have to be living in the house in order to qualify for the Obama Loan Modification plan
(That's what every body is calling it these days)
It is important to note that the Homeowner Affordability and Stability Plan (it's real name) went in effect since March 4, 2009.
If you are a homeowner and you live in your house, you should contact your mortgage broker to see if you qualify.
There are other criterias in order to be eligible, perhaps someone can talk about it.
(Reply)
by patrick, replying to Chantal on 02-Aug-09 10:09 PM
how are you chantal?
thank you for your information, I am a home owner, thinking doing the obama loan modification.
please send me more information about it at azorepatrick at comcast.net
(Reply)
by chantal, replying to patrick on 03-Aug-09 07:51 AM
If you want more info about the Obama Loan Modification plan or to see if you qualify, go to http://www.makinghomeaffordable.gov
Use the self-assessment tools provided on this website to see if you are among the 7 to 9 million homeowners who may be able to benefit from Making Home Affordable.
(Reply)
by Carlos on 3/14
Here are some key elements to Obama's stimulus plan:
If you are already a homeowner, Obama's mortgage stimulus plan Will help lower your monthly mortgage payments
Obama's mortgage stimulus plan also makes it a lot easier for the borrowers to modify the home loans
It is supposed to keep your mortgage interest rates very low, at 4.5%
If you are a homeowner going into foreclosure, Obama's mortgage stimulus plan can really help you before you default on your mortgage because it will allow you to refinance your home at 4.5%
I am not a mortgage broker but this is basically what I have been reading online above this mortgage refinancing recovery plan or whatever the name is for it.
(Reply)
by Nirva on 3/14
The Obama Loan Modification Plan is called "The Homeowner Affordability and Stability Plan"
Obama's Mortgage Stimulus Plan Calls for Mortgage Refinance at 4.5%
Basically his mortgage foreclosure stimulus plan is supposed to help existing homeowners refinance their mortgage at 4.5% and new homeowners be able to obtain a 4.5% mortgage rate.
I hope this answers your question
(Reply)
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