Comments on: Making Home Affordable http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/ New Home and Home Builder Information Sun, 21 Mar 2010 04:06:48 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Some economists say HAMP was only intended to postpone foreclosures http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-50550 Some economists say HAMP was only intended to postpone foreclosures Thu, 11 Feb 2010 18:57:22 +0000 http://www.newhomessection.com/blog/?p=2538#comment-50550 [...] Home Affordable Modification Program has treated pre-foreclosures like a pin ball game. A distressed loan enters the processes and gets [...] [...] Home Affordable Modification Program has treated pre-foreclosures like a pin ball game. A distressed loan enters the processes and gets [...]

]]> By: William@Buy IncomeTax Software http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-50114 William@Buy IncomeTax Software Tue, 02 Feb 2010 18:06:45 +0000 http://www.newhomessection.com/blog/?p=2538#comment-50114 The HAMP is being implemented differently by different banks and lenders. Wells Fargo, for example, seems to be streamlined in its processes. But in the end the NEED for help and support to remain in your home is the biggest issue. Reducing home costs to a lower level now, even if it rises over a three or four year period, provides time to adjust to new income or job situations. Credit scores and current status of the mortgage is also critical. In any event it makes sense to investigate it regardless since you can only improve your situation if you get approved. It is so easy to just say nothing can be done, but not trying to improve a bad situation is perhaps the worst you can do if you find yourself in this bind. William .-= William@Buy IncomeTax Software´s last blog ..<a href="http://www.buyincometaxsoftware.com/best-selling-income-tax-software.html" rel="nofollow">Best Selling Income Tax Software</a> =-. The HAMP is being implemented differently by different banks and lenders. Wells Fargo, for example, seems to be streamlined in its processes. But in the end the NEED for help and support to remain in your home is the biggest issue. Reducing home costs to a lower level now, even if it rises over a three or four year period, provides time to adjust to new income or job situations. Credit scores and current status of the mortgage is also critical.

In any event it makes sense to investigate it regardless since you can only improve your situation if you get approved. It is so easy to just say nothing can be done, but not trying to improve a bad situation is perhaps the worst you can do if you find yourself in this bind.

William
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]]> By: me http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-46526 me Wed, 16 Dec 2009 15:43:33 +0000 http://www.newhomessection.com/blog/?p=2538#comment-46526 Well, Freddie Mac sent me a fedex package telling me that they want to try to get me help from the Making Home Affordable plan...I qualify under everything except one...the 31% of our income..well technically if they go with my husband's income (he's the only one on the mortgage), then we MORE than qualify...but i know they are looking at my income too and that will kick it out...but they need to look at ALL our financial obligations and the fact that they are basing things on our GROSS income...I don't know what we will do if we don't qualify...we are only one month back on our payment, but we can't seem to get on top of things. Well, Freddie Mac sent me a fedex package telling me that they want to try to get me help from the Making Home Affordable plan…I qualify under everything except one…the 31% of our income..well technically if they go with my husband’s income (he’s the only one on the mortgage), then we MORE than qualify…but i know they are looking at my income too and that will kick it out…but they need to look at ALL our financial obligations and the fact that they are basing things on our GROSS income…I don’t know what we will do if we don’t qualify…we are only one month back on our payment, but we can’t seem to get on top of things.

]]> By: Best Health Insurance Companies http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-46344 Best Health Insurance Companies Mon, 14 Dec 2009 21:25:27 +0000 http://www.newhomessection.com/blog/?p=2538#comment-46344 I live in Florida and our home values have dropped 50% in the last few years. There was a report the other day the values will go down another 30% in the next 18 months. I live in Florida and our home values have dropped 50% in the last few years. There was a report the other day the values will go down another 30% in the next 18 months.

]]> By: Loan Modification http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-46217 Loan Modification Sun, 13 Dec 2009 19:09:17 +0000 http://www.newhomessection.com/blog/?p=2538#comment-46217 Well, I think the fundamental problem with making home affordable is the inordinate amount of pressure placed by hud, treasury, and the obama administration on servicers to place homeowners into trial modifications, which most servicers readily do, sometimes with homeowners that do not even meet guidelines for a HAMP modification. Of course, after the trial period and the bank has collected 2-3 payments, then they kick the homeowner out of the hamp program claiming that the NPV test doesn't make sense, or for a different reason.... .-= Loan Modification´s last blog ..<a href="http://www.modificationzoom.com/hsbc-loan-modification/" rel="nofollow">HSBC Loan Modification</a> =-. Well, I think the fundamental problem with making home affordable is the inordinate amount of pressure placed by hud, treasury, and the obama administration on servicers to place homeowners into trial modifications, which most servicers readily do, sometimes with homeowners that do not even meet guidelines for a HAMP modification. Of course, after the trial period and the bank has collected 2-3 payments, then they kick the homeowner out of the hamp program claiming that the NPV test doesn’t make sense, or for a different reason….
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]]> By: Federal Loan Modification Help for Homeowners http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-45132 Federal Loan Modification Help for Homeowners Thu, 03 Dec 2009 20:50:45 +0000 http://www.newhomessection.com/blog/?p=2538#comment-45132 [...] of foreclosed homes on the market, the federal government implemented the $75 billion plan for the Making Home Affordable program. This program was developed to basically help keep Americans in their [...] [...] of foreclosed homes on the market, the federal government implemented the $75 billion plan for the Making Home Affordable program. This program was developed to basically help keep Americans in their [...]

]]> By: Deed for Lease Program - Fannie Mae Takes Ownership & You Pay Rent http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-44375 Deed for Lease Program - Fannie Mae Takes Ownership & You Pay Rent Sat, 28 Nov 2009 05:01:13 +0000 http://www.newhomessection.com/blog/?p=2538#comment-44375 [...] program is mainly there to aid borrowers that do not qualify for a loan modification under the Making Home Affordable plan, but still want to be able to stay in their home. To qualify for the “Deed for Lease” [...] [...] program is mainly there to aid borrowers that do not qualify for a loan modification under the Making Home Affordable plan, but still want to be able to stay in their home. To qualify for the “Deed for Lease” [...]

]]> By: las vegas lawyer http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-42240 las vegas lawyer Sat, 14 Nov 2009 06:08:03 +0000 http://www.newhomessection.com/blog/?p=2538#comment-42240 Good info. Being in a city with a high foreclosure rate, I can tell you that it was not made very clear to many people what their options were. People were very confused and misinformed. Some people told them to miss a payments before they can receive help and others told them that they cannot be late on payments to receive assistance. Good info. Being in a city with a high foreclosure rate, I can tell you that it was not made very clear to many people what their options were. People were very confused and misinformed. Some people told them to miss a payments before they can receive help and others told them that they cannot be late on payments to receive assistance.

]]> By: Jobs Manhattan New York http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-38888 Jobs Manhattan New York Mon, 26 Oct 2009 19:46:24 +0000 http://www.newhomessection.com/blog/?p=2538#comment-38888 My brother got a really great break on his new house because he is active military. Hopefully, this was helpful to a lot of people. Isn't the time frame for these offers about over? .-= Jobs Manhattan New York´s last blog ..<a href="http://www.jobsmanhattannewyork.com/jobs-manhattan-new-york/3/" rel="nofollow">Jobs Manhattan New York</a> =-. My brother got a really great break on his new house because he is active military. Hopefully, this was helpful to a lot of people. Isn’t the time frame for these offers about over?
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]]> By: james@ landlord property insurance http://www.newhomessection.com/blog/making-home-affordable/2009/04/02/comment-page-1/#comment-35544 james@ landlord property insurance Sat, 10 Oct 2009 19:03:20 +0000 http://www.newhomessection.com/blog/?p=2538#comment-35544 How fair is that for the insurance companies? People were given mortgages that they could not afford in the first place, now we have to back-step to allow them to keep something they had no right to in the first place? How fair is that for the insurance companies? People were given mortgages that they could not afford in the first place, now we have to back-step to allow them to keep something they had no right to in the first place?

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