Comments on: It is a Massive, Once-in-Three-Generations Bursting of a Housing Bubble http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/ - Free Mortgage, Auto and Student loan Calculators by LoanWorkout.org Tue, 18 Oct 2011 02:57:27 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: lori casey http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1248 lori casey Fri, 09 May 2008 04:19:43 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1248 hi iam receivin at least 3 postcards a day from companies who claim to be able to work with my lender to modify my loan for a fee of course. how do you know which of these are not just out to buy your house from under you or just take your money? anyone heard of instant capital? hi iam receivin at least 3 postcards a day from companies who claim to be able to work with my lender to modify my loan for a fee of course. how do you know which of these are not just out to buy your house from under you or just take your money? anyone heard of instant capital?

]]> By: will http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1247 will Tue, 01 Apr 2008 23:02:36 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1247 I had to respond to this. In November I let my first mortgage company know that I will have trouble paying the new adjusted rate in January and was wondering if they could help me out. I have been on the phone almost every day for one hour or more on hold since November. I wanted to make sure they received all of my docs and they understood my situation. Needless to say today is April 1, 2008. I did receive a modification. It is the same loan. I called GMAC and they said that is the best they can do. I asked if they could at least freeze the rate so the payment can remain as it was before. They said that is the best they can do. I tried talking to a manager and they told me no one else can help. I called the hopeNow on March 26 and they told me to call them and try again. As I write this I am on hold with GMAC to talk to them again and tell them what the hopeNow guy told me to tell them. At this point it appears to me that GMAC is full of bull and they do not want to help anyone. The loan modification they gave me is the same amount the loan was that I have been telling them since November I cannot afford. At this point I am still trying but I do not expect much from GMAC. Best of luck to you all. Will I had to respond to this. In November I let my first mortgage company know that I will have trouble paying the new adjusted rate in January and was wondering if they could help me out. I have been on the phone almost every day for one hour or more on hold since November. I wanted to make sure they received all of my docs and they understood my situation. Needless to say today is April 1, 2008. I did receive a modification. It is the same loan. I called GMAC and they said that is the best they can do. I asked if they could at least freeze the rate so the payment can remain as it was before. They said that is the best they can do. I tried talking to a manager and they told me no one else can help.
I called the hopeNow on March 26 and they told me to call them and try again. As I write this I am on hold with GMAC to talk to them again and tell them what the hopeNow guy told me to tell them. At this point it appears to me that GMAC is full of bull and they do not want to help anyone. The loan modification they gave me is the same amount the loan was that I have been telling them since November I cannot afford. At this point I am still trying but I do not expect much from GMAC.
Best of luck to you all.
Will

]]> By: Hope Now for Homeowners | Loan Modification & Loan Workout News http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1246 Hope Now for Homeowners | Loan Modification & Loan Workout News Fri, 07 Dec 2007 00:54:31 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1246 [...] Bush announced details of the Hope Now initiative that Secretary Treasurer Henry Paulson has been diligently working on since August. The plan was part of deal with lenders, servicers and investors to come [...] [...] Bush announced details of the Hope Now initiative that Secretary Treasurer Henry Paulson has been diligently working on since August. The plan was part of deal with lenders, servicers and investors to come [...]

]]> By: krunitomul blog http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7054 krunitomul blog Fri, 16 Nov 2007 23:26:36 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7054 <strong>krunitomul 53 post</strong> all about krunitomul and top news krunitomul 53 post

all about krunitomul and top news

]]> By: plogonot blog http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1245 plogonot blog Thu, 08 Nov 2007 19:21:03 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-1245 <strong>plogonot 34 post</strong> all about plogonot and top news plogonot 34 post

all about plogonot and top news

]]> By: Paul J. Molinaro http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7053 Paul J. Molinaro Fri, 02 Nov 2007 03:05:58 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7053 It's hard to believe that there are "professionals" out there, whether in the media, financial world, or politics that just don't see the massive scale of what's coming. For example, last week I sent an article on the topic of the subprime meltdown to a widely circulated magazine which is read by medical professionals across the country. This magazine is not about the practice of medicine but offers financial advice and financial planning strategies to physicians. The editor thanked me for the article but declined to run it because she did not deem it to be of interest to her readers. HUH??? I had no idea that doctors were not affected by the mortgage crisis. I guess no physicians took equity out of their homes, and none got adjustable rate stated income loans. Sheeesh. I bet this rag covers the topic within 6 months. <br /><br />- Paul It’s hard to believe that there are “professionals” out there, whether in the media, financial world, or politics that just don’t see the massive scale of what’s coming. For example, last week I sent an article on the topic of the subprime meltdown to a widely circulated magazine which is read by medical professionals across the country. This magazine is not about the practice of medicine but offers financial advice and financial planning strategies to physicians. The editor thanked me for the article but declined to run it because she did not deem it to be of interest to her readers. HUH??? I had no idea that doctors were not affected by the mortgage crisis. I guess no physicians took equity out of their homes, and none got adjustable rate stated income loans. Sheeesh. I bet this rag covers the topic within 6 months.

- Paul

]]> By: Prof. Samuel D. Bormstein http://loanworkout.org/2007/11/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7052 Prof. Samuel D. Bormstein Fri, 02 Nov 2007 02:07:20 +0000 http://loanworkout.org/2007/11/01/it-is-a-massive-once-in-three-generations-bursting-of-a-housing-bubble/#comment-7052 Rather than waiting for the expected massive defaults, we should try a new and proactive approach rather than the reactive approach that we have been taking. This may be the time to explore developing a way to reach these borrowers to guide and show them how they may be able to afford the mortgage payments. Right now we are just waiting for the expected inevitable foreclosures. I really don't think that the counseling agencies will do much good because they have limited resources and limited talent to have any positive effects on the outcome. Rather than waiting for the expected massive defaults, we should try a new and proactive approach rather than the reactive approach that we have been taking. This may be the time to explore developing a way to reach these borrowers to guide and show them how they may be able to afford the mortgage payments. Right now we are just waiting for the expected inevitable foreclosures. I really don’t think that the counseling agencies will do much good because they have limited resources and limited talent to have any positive effects on the outcome.

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