It’s allowing Banks to collect payments for a few extra months THEN foreclose. You can’t make this up… these are facts… even has the Democratic Party asking how the plan is helping families. Answer: It’s not.
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The average homeowner who's received a five-year modified mortgage under the administration's plan had negative equity of about 35 percent prior to the program, according to the report. After modification, that burden actually increased for the average homeowner, who is now underwater by more than 43 percent.
By comparison, last year lenders foreclosed on more than 2.8 million homes, a record, according to real estate research firm RealtyTrac. The firm estimates three million homes will get foreclosure notices this year; more than one million of them will be repossessed by lenders.
The second-ranking Democrat in the Senate expressed concern Thursday over the ultimate effectiveness of the Obama administration's signature foreclosure-prevention effort, becoming the highest-ranking member of the president's party to publicly question the administration's efforts to help struggling families.
by OLYHOOCH 13 years ago
This story came to me this evening. I thought you should read it. I’ve never been a “blogger” and tend to not do much writing at all because I’m dyslexic and the whole process of writing, spelling, and grammar causes my brain to want to explode. I’ve decided to write this blog because I’m so...
by wishingonastar 13 years ago
Let me start off by saying that this loan is a Freddie Mac loan. This loan has been sold so many times throughout the 10 years I have lived here. I fell on hard times and tried for a loan modification. My lender granted me a modification, or so I thought. They recalculated my income and...
by Susan Reid 12 years ago
How did he do?Will Congress continue to stonewall on this?Or will they make something happen?
by GL Bell 14 years ago
Just saw this on morning news...If this is true than we have seen nothing yet...
by JON EWALL 11 years ago
When will President Obama tell the people his plan to change the economy around?
by lady_love158 12 years ago
http://m.washingtontimes.com/news/2011/ … increases/Really, and people think this guy is a genius? Why does he insist on making ideological proposals that even his own party wont support? This president is beyond inept and incompetent, he's moronic!
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