President Obama on Working Through the Mortgage Crisis
The President speaks after Housing Refinance Roundtable with real people who have benefited from renegotiating their mortgages and explains how millions of others can take advantage of his Making Home Affordable plan. (public domain)
Video Rating: 4 / 5
it is unfortunate that if you relay on the gov to solve your problems then you are the under-dog from the get-go. Many hard-working and honest people are facing problems. We are just the victims of big corporations; whether it is Wells Farto or Golden Sack, we are just another widow of orphan (in own Tourre’s admission). Thats why big corporate pay millions to politicians to have laws or DE-regulation in their favor.
Get someone in there that knows what they are talking about.
this is bullshit. this will only help people on the short term. While on the long run it won’t last and you’ll eventually lose your home.
This is a great program for the banks. Essentially this is a bank bailout, so people don’t walk from their properties. The benefit to the homeowner is that the mortgage is extended for years and the interest rate is reduced making the monthly mortgage payment less than rent in some cases. Downside for the bank:none. Downside for homeowner?: maintenance costs, upside down value/loan balance.
The guy to the right looked shocked and hot.
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Prez plan to have every vet medical record start on day one of service till laid to rest, is a big step in the right direction. Whenever a vet shows up at a VA place his records will show everything and services can move forward, instead of waiting and sorting through files they now have to carry around from place to place and wait for authentication. Save wait time and get the care needed. GREAT IDEA you go prez!
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Looks like you need an attorney. Obama will tell you the same. 877-9-HOME-11
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COUNTRYWIDE LOAN WENT INTO DEFAULT BY 06 SUMMONS BY BANK OF NY.
from : JAN 2007 TO MAY 2009
15 COURT ADJOURNMENTS
COURTS approved
NYFOUNDATION -COURT GUARDIAN wCOURT ORDER OF STAY by JUDGE THOMAS.
we are NOT PERMITED to speak in COURT!
we LOVE our HOUSE & want 2PAY A MORTGAGE! How do I write OBAMA?
Well, it has worked for us! Thank you Obama!
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I’m so happy I live in the land of the free where I”m able to vote for another president in just four years….so I keep telling myself it’s just arund the corner.
will do, thanks for the info. I am a little concerned about all the scams going on so believe me, I am watching out.
1-800-995-HOPE (Hope for Home owners) free counceling. Also look for HUD councelers. Lenders are on board. If your in a adjustable loan. It may be that your in a “Liar Loan” (set up in a loan you never could afford in the first place). Why would they modify it? If you are in a fixed loan trying to go it alone, be careful. I did a search on my mortgage co. name followed by scam. Found out people who did modify had missed payments, fees , and service charges added to the back of the loan.
I’m not sure all the mortgage companies are on board with this plan, We called our mortgage company, National City Mortgage regarding the problems we were having and were told that basically we would have to go into foreclosure in order for them to help us. what do you do in a case such as this?
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Not sure if guy on right is going to kiss him or take a bat to him. Well said BROKERin AZ. Gov. also has no interest in helping people caught up in fraudulant loans created by our greedy brokers and lenders. They believe home owners offered to risk their life savings, move their own furniture, gamble everything, and pay their broker a high commision. Stealing our homes and jacking up the rents. They belive this will be a passive event. Just moving us from one jail cell to the next.
That’s not a typewriter you hear in the background. IT’s photographer’s flashes.
The only way I can imagine is to send a letter to the white house, be it online or mail. They get thousands of letters a week, though. Get involved in politics if you really want to make a difference.
The White House still use a typewriter. ~.~
I have a proposal as to how the government can better utilize funds given to banks to truly make a difference for the homewoner who’s upside down on their mortgage. How can I get someones ear?
Mr. President,
Unfortunately the challenge with the plan is that the lenders are not willing to reduce the principle balance on the homeowners who are upside down on their mortgage and can’t afford their payments. They have no real incentive to do so.
lol so true