Comments on: FHA Secure Flop. Only 266 Borrowers Have Been Assisted! http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/ Loan Modification & Home Loan News Mon, 22 Mar 2010 00:08:06 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: President Obama’s Foreclosure Rescue Plan: Loan Modification Analysis | Guilda Blog http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-12298 President Obama’s Foreclosure Rescue Plan: Loan Modification Analysis | Guilda Blog Thu, 19 Feb 2009 11:51:49 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-12298 [...] helping homeowners face foreclosure.  Past performance: FHA Secure: Projected to help 80,000 Actually helped 266. Hope for Homeowners: Projected to help 400,000 actually helped 312. Projections for President [...] [...] helping homeowners face foreclosure.  Past performance: FHA Secure: Projected to help 80,000 Actually helped 266. Hope for Homeowners: Projected to help 400,000 actually helped 312. Projections for President [...]

]]> By: President Obama’s Foreclosure Rescue Plan: Loan Modification Analysis | Rain City Guide http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-12283 President Obama’s Foreclosure Rescue Plan: Loan Modification Analysis | Rain City Guide Thu, 19 Feb 2009 03:38:21 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-12283 [...] helping homeowners face foreclosure.  Past performance: FHA Secure: Projected to help 80,000 Actually helped 266. Hope for Homeowners: Projected to help 400,000 actually helped 312. Projections for President [...] [...] helping homeowners face foreclosure.  Past performance: FHA Secure: Projected to help 80,000 Actually helped 266. Hope for Homeowners: Projected to help 400,000 actually helped 312. Projections for President [...]

]]> By: Tim http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-8600 Tim Thu, 24 Apr 2008 05:13:57 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-8600 As a Realtor and Loan Consultant there is an problem that has not been addressed. There are a tremendous number of undocumented homeowners who are walking away from their mortgages. It is easy for them because they can start over with another identity. There is truely and underground economy but its not talked about in terms of foreclosures. I work homeowners to modify their mortgage to allow them to keep their homes. Alot of them do not have social security numbers but were able to get a loan. I don't believe the foreclosure mess is an accident because Congress changed bankruptcy laws not allowing judges to restructure loans. The major reason prices are dropping in not just because there is a lack of credit but lenders have been taking 3 or more months to make a decision on a short sale. Lenders eventually take less because the initial higher offers don't stick around. Just like with anything else, the longer its on the market the more the value drops. As a Realtor and Loan Consultant there is an problem that has not been addressed. There are a tremendous number of undocumented homeowners who are walking away from their mortgages. It is easy for them because they can start over with another identity. There is truely and underground economy but its not talked about in terms of foreclosures. I work homeowners to modify their mortgage to allow them to keep their homes. Alot of them do not have social security numbers but were able to get a loan. I don’t believe the foreclosure mess is an accident because Congress changed bankruptcy laws not allowing judges to restructure loans. The major reason prices are dropping in not just because there is a lack of credit but lenders have been taking 3 or more months to make a decision on a short sale. Lenders eventually take less because the initial higher offers don’t stick around. Just like with anything else, the longer its on the market the more the value drops.

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]]> By: Moe http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2811 Moe Sun, 23 Dec 2007 20:48:44 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2811 Misinformation. that's about all I can get from you.......I'll live with that. Misinformation. that’s about all I can get from you…….I’ll live with that.

]]> By: alan http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2812 alan Sun, 23 Dec 2007 20:23:34 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2812 Baiting means promising something and that stuffing into different loan. For example those teaser rate ads that imply fixed rate loan but in reality option arm bombs. FHASecure is not baiting them if borrower calls and denied it ain't baiting since he/she is not being sold into another product. Borrower simply doesn't qualify. Misinformation from HUD, sure. But baiting it ain't. Baiting means promising something and that stuffing into different loan. For example those teaser rate ads that imply fixed rate loan but in reality option arm bombs. FHASecure is not baiting them if borrower calls and denied it ain’t baiting since he/she is not being sold into another product. Borrower simply doesn’t qualify. Misinformation from HUD, sure. But baiting it ain’t.

]]> By: Moe http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2814 Moe Sun, 23 Dec 2007 19:16:20 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2814 CTAN- They may not be baiting and switching, but they are definitely making false claims. Thanks for your thoughtful comments. Yvonne - sorry to hear your stressful story. There are millions facing what you are. My heart goes out to you and keep fighting! Wellitisntallbad - huh? haha Someone is a moron- you are correct CTAN- They may not be baiting and switching, but they are definitely making false claims. Thanks for your thoughtful comments.

Yvonne – sorry to hear your stressful story. There are millions facing what you are. My heart goes out to you and keep fighting!

Wellitisntallbad – huh? haha

Someone is a moron- you are correct

]]> By: Moe http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2813 Moe Sun, 23 Dec 2007 19:12:19 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2813 Alan, it definitely appears they are making false claims. I have more than backed up my claims and you will still find something to pick at me with. Did you folllow all this blue links? Well, those are links to my claims and they speak for themselves. Most homeowners have no idea what the FHA Secure is, but a fancy new name that is boasted as saving 40,000 homeowners. They are baiting them on false claims and the fact that most homeowners are completely to what the FHASecure is and what it will do for them. And directly from the FHA website they say they are saving thousands with the FHASECURE and that 40,000 have been helped with the FHA Secure. They should fix it and make a public apology because it is wrong to make those claims when millions are at risk of losing their home and this is serious issue for consumers. Alan, GET YOUR TERMINOLOGY STRAIGHT! No matter what you comment. I have won this debate hands down. Fold your cards, throw in the hand and have a Merry Christmas! Alan, it definitely appears they are making false claims. I have more than backed up my claims and you will still find something to pick at me with. Did you folllow all this blue links? Well, those are links to my claims and they speak for themselves.

Most homeowners have no idea what the FHA Secure is, but a fancy new name that is boasted as saving 40,000 homeowners. They are baiting them on false claims and the fact that most homeowners are completely to what the FHASecure is and what it will do for them.

And directly from the FHA website they say they are saving thousands with the FHASECURE and that 40,000 have been helped with the FHA Secure.

They should fix it and make a public apology because it is wrong to make those claims when millions are at risk of losing their home and this is serious issue for consumers.

Alan, GET YOUR TERMINOLOGY STRAIGHT!

No matter what you comment. I have won this debate hands down. Fold your cards, throw in the hand and have a Merry Christmas!

]]> By: alan http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2797 alan Sat, 22 Dec 2007 21:07:25 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2797 Moe, Out of curiosity, significant portion of bait & switch, well is "switch". Just what product FHA is switching them into ? You see, that's not a bait and switch because these folks are too deep into debt hole. If there is no product to help these people that's not bait & switch, because there is no switching going on at all. Get your terminology straight. Moe,

Out of curiosity, significant portion of bait & switch, well is “switch”. Just what product FHA is switching them into ? You see, that’s not a bait and switch because these folks are too deep into debt hole. If there is no product to help these people that’s not bait & switch, because there is no switching going on at all. Get your terminology straight.

]]> By: Yvonne Williams http://loanworkout.org/2007/12/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2799 Yvonne Williams Sat, 22 Dec 2007 20:11:44 +0000 http://loanworkout.org/2007/12/18/fha-secure-flop-only-266-borrowers-assisted-thus-far/#comment-2799 We were trying to refinance the home. Countrywide mortgage took us thru a series of nothingness. Since Oct 2007 to Dec 19 2007 they said they were trying to help us. Well the housing market kept going down... Dec 12th they put us in for FHA they did a new appraisal and now they said your house has dropped in value too low. Now they can't refinance. We paid 400 to get an appraisal in Nov 2007 and it was approval and they did not go thru with it. It seems they wanted us to not be able to refinance. Now we have to try to get a loan modification with our lender.... We thought we were preplanning and handling this situation. We were trying to refinance the home. Countrywide mortgage took us thru a series of nothingness. Since Oct 2007 to Dec 19 2007 they said they were trying to help us. Well the housing market kept going down…
Dec 12th they put us in for FHA they did a new appraisal and now they said your house has dropped in value too low. Now they can’t refinance.
We paid 400 to get an appraisal in Nov 2007 and it was approval and they did not go thru with it. It seems they wanted us to not be able to refinance. Now we have to try to get a loan modification with our lender…. We thought we were preplanning and handling this situation.

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