Comments on: Financial Services Committee Approves FHA Housing and Homeowner Retention Act http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/ Loan Modification & Home Loan News Fri, 20 Nov 2009 12:55:43 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: john stanick http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10812 john stanick Mon, 09 Jun 2008 17:05:29 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10812 I have been asked to send a mortgage co. $3,000 up front money to secure a new lower FHA loan. If I am not approved they will refund me $1,000. Is this normal or is it a scam? I have been asked to send a mortgage co. $3,000 up front money to secure a new lower FHA loan. If I am not approved they will refund me $1,000. Is this normal or is it a scam?

]]> By: john stanick http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10811 john stanick Mon, 09 Jun 2008 17:01:34 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10811 I have been asked to send a mortgage co $3,000 up front to secure a FHA modification loan and if is not approved they will send back $1,000. Is this a scamor is it normalmto give them up front mone I have been asked to send a mortgage co $3,000 up front to secure a FHA modification loan and if is not approved they will send back $1,000. Is this a scamor is it normalmto give them up front mone

]]> By: john stanick http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10810 john stanick Mon, 09 Jun 2008 17:01:18 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10810 I have been asked to send a mortgage co $3,000 up front to secure a FHA modification loan and if is not approved they will send back $1,000. Is this a scamor is it normalmto give them up front money? This is my correct gmail address I have been asked to send a mortgage co $3,000 up front to secure a FHA modification loan and if is not approved they will send back $1,000. Is this a scamor is it normalmto give them up front money?

This is my correct gmail address

]]> By: caylas_mom http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10813 caylas_mom Mon, 09 Jun 2008 13:03:09 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10813 Gary, I think it's about time the government steps in and in fact, there should never have been discussions about voluntary participation of private lenders since they're the cause of this big mess in the first place. Yes, there should have been better oversight in the past but at least, we now have a suggested path forward. My husband and I (both working full-time jobs, with post-grad degrees) have never been late on our payments. However, the value has decreased by 30% since we purchased 2.5 yrs ago and to make matters worse, our IR is set to adjust this Nov and every 6 mos after. We've contacted the lender on numerous occasions and were told unless we stop making payments, they could not enter into negotiations w/ us. We've even looked into hiring lawyers but that is just as costly. Should I neglect monthly payments in hopes that a lawyer can help solve the dilemma? Should we just walk away? It seems the system you're defending has been set up to help honest to goodness people fail and loan sharks succeed. For most of us who are at the cross-roads, the new FHA loan could mean the difference in keeping our homes and families together or starting over again. Gary, I think it’s about time the government steps in and in fact, there should never have been discussions about voluntary participation of private lenders since they’re the cause of this big mess in the first place. Yes, there should have been better oversight in the past but at least, we now have a suggested path forward. My husband and I (both working full-time jobs, with post-grad degrees) have never been late on our payments. However, the value has decreased by 30% since we purchased 2.5 yrs ago and to make matters worse, our IR is set to adjust this Nov and every 6 mos after. We’ve contacted the lender on numerous occasions and were told unless we stop making payments, they could not enter into negotiations w/ us. We’ve even looked into hiring lawyers but that is just as costly. Should I neglect monthly payments in hopes that a lawyer can help solve the dilemma? Should we just walk away? It seems the system you’re defending has been set up to help honest to goodness people fail and loan sharks succeed. For most of us who are at the cross-roads, the new FHA loan could mean the difference in keeping our homes and families together or starting over again.

]]> By: antoinette dematteo http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10815 antoinette dematteo Mon, 02 Jun 2008 19:39:19 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10815 please help please help

]]> By: antoinette dematteo http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10814 antoinette dematteo Mon, 02 Jun 2008 19:36:05 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10814 i have been trying to get help and nobody wants to help me.the only way they will help me if i give them up front 3,000-6000 up front.if i had that money my mort would be up to date.please i just got a good job after being out of worked and taken by my partner.please i have lived in my house for over 10 yrs,i realy would like to keep it.please help me. thank you i have been trying to get help and nobody wants to help me.the
only way they will help me if i give them up front 3,000-6000 up
front.if i had that money my mort would be up to date.please i
just got a good job after being out of worked and taken by my partner.please i have lived in my house for over 10 yrs,i realy
would like to keep it.please help me.

thank you

]]> By: Annetta Frayer http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10809 Annetta Frayer Tue, 13 May 2008 21:26:24 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10809 I think this is a really good suggestion. Because I am a viticm of mortgage fraud. I have been trying to get help for a long time now. It was seeming to be impossible before hr. 5830 came up. I can't speak for other people, I know I am a good person an paid my mort. on time before I refinanced and got into this mort. I could not afford. I was promised to get refinance the next month into a better mort. That never happend. I striped all the equity out of my house making it very hard for me to get refin. I think this is a really good suggestion. Because I am a viticm of mortgage fraud. I have been trying to get help for a long time now. It was seeming to be impossible before hr. 5830 came up. I can’t speak for other people, I know I am a good person an paid my mort. on time before I refinanced and got into this mort. I could not afford. I was promised to get refinance the next month into a better mort. That never happend. I striped all the equity out of my house making it very hard for me to get refin.

]]> By: WTF http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-5030 WTF Thu, 08 May 2008 20:42:26 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-5030 Call/email the White House to provide support for the veto: http://patrick.net/housing/contrib/whitehouse.html Call/email the White House to provide support for the veto:

http://patrick.net/housing/contrib/whitehouse.html

]]> By: Phil http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-5029 Phil Thu, 08 May 2008 20:22:19 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-5029 The treasury secretary appears to be ready to compromise on the bill. It still seems like something will pass. The treasury secretary appears to be ready to compromise on the bill. It still seems like something will pass.

]]> By: Gary http://loanworkout.org/2008/05/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10808 Gary Sun, 04 May 2008 00:11:52 +0000 http://loanworkout.org/2008/05/03/financial-services-committee-approves-fha-housing-and-homeowner-retention-act/#comment-10808 Has Barney Frank lost his mind? Did he make those comments without any attempt to disguise their implied threat? For months we've heard that participation by servicers in the various bailout programs put forth by the government is voluntary. However Frank's comments would suggest the government's willingness to abandon previous voluntary efforts and openly compel non-government market participants to orchestrate a bailout on their behalf. How disgusting to witness government interference in the direction of the market. Has Barney Frank lost his mind? Did he make those comments without any attempt to disguise their implied threat? For months we’ve heard that participation by servicers in the various bailout programs put forth by the government is voluntary. However Frank’s comments would suggest the government’s willingness to abandon previous voluntary efforts and openly compel non-government market participants to orchestrate a bailout on their behalf. How disgusting to witness government interference in the direction of the market.

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