Comments on: President Obama’s Foreclosure Prevention Plan Explained http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/ Loan Modification & Home Loan News Mon, 22 Mar 2010 00:08:06 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Angie Hoyt http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-16212 Angie Hoyt Tue, 18 Aug 2009 00:38:53 +0000 http://loanworkout.org/?p=2927#comment-16212 I just found out today I have a Ginnie Mae loan! I have never heard of them before. I was always under the impression, FHA, was Fannie or Freddie. We are going to foreclose on our home. Our mortgage company has been keeping my hopes alive up until today. They told me that Ginnie Mae, may be on board really soon. So the guy heard. And to continue to call back every week to see if they are on board yet. WHY. WHY doesn't this Obama plan include Ginnie Mae. WHY? I have done nothing but cry all evening. I just found out today I have a Ginnie Mae loan! I have never heard of them before. I was always under the impression, FHA, was Fannie or Freddie.

We are going to foreclose on our home. Our mortgage company has been keeping my hopes alive up until today. They told me that Ginnie Mae, may be on board really soon. So the guy heard. And to continue to call back every week to see if they are on board yet.

WHY. WHY doesn’t this Obama plan include Ginnie Mae. WHY?
I have done nothing but cry all evening.

]]> By: Lucia Davison http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-15735 Lucia Davison Sat, 18 Jul 2009 17:19:23 +0000 http://loanworkout.org/?p=2927#comment-15735 DOES ANYONE HAVE ANY ANSWERS TO THESE QUESTIONS??? All I see is questions and no resolve?? I have a Ginnie Mae loan and need help. What are we other Americans supposed to do? DOES ANYONE HAVE ANY ANSWERS TO THESE QUESTIONS??? All I see is questions and no resolve?? I have a Ginnie Mae loan and need help. What are we other Americans supposed to do?

]]> By: ” TOO-BIG-TO-FAIL & THREE NARRATIVES,” by Stats Guy, www. baselinescenario. com. Excellent review of post-Lehman failure six months ago. Worth the time. « Want Less Blog http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-14352 ” TOO-BIG-TO-FAIL & THREE NARRATIVES,” by Stats Guy, www. baselinescenario. com. Excellent review of post-Lehman failure six months ago. Worth the time. « Want Less Blog Mon, 27 Apr 2009 06:56:56 +0000 http://loanworkout.org/?p=2927#comment-14352 [...] And finally, systemic risk is massively intensified by the complexity of financial instruments (CDOs, CDSs) which allegedly increase liquidity and volatility (evidence for this is mixed; the VIX volatility index declined through 2006even as CDO usage intensified), exacerbate systemic linkages (IMF report, Figures 2.1 and 2.6), and decouple the financing/servicing aspects of loans that are usually married together in vertically integrated banks (both creating information barriers, and making loan restructuring more difficult). [...] [...] And finally, systemic risk is massively intensified by the complexity of financial instruments (CDOs, CDSs) which allegedly increase liquidity and volatility (evidence for this is mixed; the VIX volatility index declined through 2006even as CDO usage intensified), exacerbate systemic linkages (IMF report, Figures 2.1 and 2.6), and decouple the financing/servicing aspects of loans that are usually married together in vertically integrated banks (both creating information barriers, and making loan restructuring more difficult). [...]

]]> By: Guest Post: Too-Big-To-Fail and Three Other Narratives « The Baseline Scenario http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-14340 Guest Post: Too-Big-To-Fail and Three Other Narratives « The Baseline Scenario Sun, 26 Apr 2009 18:58:23 +0000 http://loanworkout.org/?p=2927#comment-14340 [...] And finally, systemic risk is massively intensified by the complexity of financial instruments (CDOs, CDSs) which allegedly increase liquidity and volatility (evidence for this is mixed; the VIX volatility index declined through 2006 even as CDO usage intensified), exacerbate systemic linkages (IMF report, Figures 2.1 and 2.6), and decouple the financing/servicing aspects of loans that are usually married together in vertically integrated banks (both creating information barriers, and making loan restructuring more difficult). [...] [...] And finally, systemic risk is massively intensified by the complexity of financial instruments (CDOs, CDSs) which allegedly increase liquidity and volatility (evidence for this is mixed; the VIX volatility index declined through 2006 even as CDO usage intensified), exacerbate systemic linkages (IMF report, Figures 2.1 and 2.6), and decouple the financing/servicing aspects of loans that are usually married together in vertically integrated banks (both creating information barriers, and making loan restructuring more difficult). [...]

]]> By: desperoto http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-13779 desperoto Tue, 07 Apr 2009 23:14:39 +0000 http://loanworkout.org/?p=2927#comment-13779 TOO MARYANN Maryann says: "March 3, 2009 at 8:26 amHi, I have owned my home for 12 years. My name is the only name on the mortgage, I am single with a child. I lost my job in March of 2008. I have been living off of unemployment for the past year, trying to find something close to what I was earning a year ago and have had no luck! I currently have been late on my mortgage payments for the past 4 months. I pay them; however, they are a month late, November I paid in December, December’s was in January, etc. My mortgage is currently $105,000 as I refinanced several years ago to get out of debt. Would this plan help me in anyway? and if so, please tell me how I can contact/call someone for help. Thank you" MARYANN DID YOU GET ANY RESOLUTION TO THIS? I AM IN THE EXACT SAME SITUATION AND I CAN NOT REFINANCE CAUSE THEY WANT TO SEE 12 MONTHS OF ON TIME, IV BEEN HAVING TO DO THE Nov in Dec, Dec in Jan etc etc FOR A WHILE. ANY LUCK? ADVICE? IM WITH COUNTRYWIDE TOO AND THEY JUST KEPT SAYING NO! :( TOO MARYANN

Maryann says: “March 3, 2009 at 8:26 amHi,
I have owned my home for 12 years. My name is the only name on the mortgage, I am single with a child. I lost my job in March of 2008. I have been living off of unemployment for the past year, trying to find something close to what I was earning a year ago and have had no luck! I currently have been late on my mortgage payments for the past 4 months. I pay them; however, they are a month late, November I paid in December, December’s was in January, etc. My mortgage is currently $105,000 as I refinanced several years ago to get out of debt. Would this plan help me in anyway? and if so, please tell me how I can contact/call someone for help.
Thank you”

MARYANN DID YOU GET ANY RESOLUTION TO THIS? I AM IN THE EXACT SAME SITUATION AND I CAN NOT REFINANCE CAUSE THEY WANT TO SEE 12 MONTHS OF ON TIME, IV BEEN HAVING TO DO THE Nov in Dec, Dec in Jan etc etc FOR A WHILE. ANY LUCK? ADVICE? IM WITH COUNTRYWIDE TOO AND THEY JUST KEPT SAYING NO! :(

]]> By: k. ward http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-13599 k. ward Fri, 03 Apr 2009 01:16:22 +0000 http://loanworkout.org/?p=2927#comment-13599 Is ginny mae part of the presidents plan? and what do i need to do? Wife recently lost job. Current on payments Is ginny mae part of the presidents plan? and what do i need to do? Wife recently lost job. Current on payments

]]> By: Jeannie Vannorsdel http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-13241 Jeannie Vannorsdel Sun, 22 Mar 2009 16:12:03 +0000 http://loanworkout.org/?p=2927#comment-13241 I want very much to keep my home and I have kept current on my mortgage payments. However, I am struggling very hard to make ends meet as I am recently divorced and now have to pay the home mortgage by myself. I asked my mortgage company for a loan modification (I currently have an adjustable rate loan that is also interest only) and they declined my request and told me I may be eligible for a short sale. I really do not want to lose my home so this is not an option I wish to persue. Will there be any help soon for people like myself? If so, what do I need to do other than contact my mortgage company who already turned me down? I want very much to keep my home and I have kept current on my mortgage payments. However, I am struggling very hard to make ends meet as I am recently divorced and now have to pay the home mortgage by myself. I asked my mortgage company for a loan modification (I currently have an adjustable rate loan that is also interest only) and they declined my request and told me I may be eligible for a short sale. I really do not want to lose my home so this is not an option I wish to persue. Will there be any help soon for people like myself? If so, what do I need to do other than contact my mortgage company who already turned me down?

]]> By: cgraham http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-13103 cgraham Thu, 19 Mar 2009 13:24:39 +0000 http://loanworkout.org/?p=2927#comment-13103 I moved into my home about 5 yrs. ago and everything was fine until my husband was in a bad car accident which left everything on me. I had to file wage earner and that too was going aline okay. aaaAt least my bills were getting paid and then my company closed leaving me jobless. After 6mos.my wage earner was dissmissed. I refiled 3 mos. later after finding work with a temp service but the assignment was up and so was the wager earner.I've been trying to work with my j p morgan chase on a payment plan,but they want between 7,000.00-8,000.00 down with 3 monthly mortagage payments of 1,500.00, before my loan will be modified.I'm back at work now andI could afford a 800.00-900.00 monthly payment comfortably, but I don't have that type of down payment .I am in pre forecloser now and I don't want to lose my home.The idea of that is already affecting my son.Do I have a chance of getting help with the new stimulus plan?I know for a fact that a couple of other banks have already brgin working with their mortagage holder without a large down payment and have already told them about a plan that's going to help them without the stress of worrying of losing their homes.Of course chase is not telling me anything except try to get they down payment so that they can modify and that they don't want to see me lose my home.Will if that's so, "work with me". I don't have that kind od money. Can you let me know if this plan will help and give me any other helpful information?. Thank You I moved into my home about 5 yrs. ago and everything was fine until my husband was in a bad car accident which left everything on me. I had to file wage earner and that too was going aline okay. aaaAt least my bills were getting paid and then my company closed leaving me jobless. After 6mos.my wage earner was dissmissed. I refiled 3 mos. later after finding work with a temp service but the assignment was up and so was the wager earner.I’ve been trying to work with my j p morgan chase on a payment plan,but they want between 7,000.00-8,000.00 down with 3 monthly mortagage payments of 1,500.00, before my loan will be modified.I’m back at work now andI could afford a 800.00-900.00 monthly payment comfortably, but I don’t have that type of down payment .I am in pre forecloser now and I don’t want to lose my home.The idea of that is already affecting my son.Do I have a chance of getting help with the new stimulus plan?I know for a fact that a couple of other banks have already brgin working with their mortagage holder without a large down payment and have already told them about a plan that’s going to help them without the stress of worrying of losing their homes.Of course chase is not telling me anything except try to get they down payment so that they can modify and that they don’t want to see me lose my home.Will if that’s so, “work with me”. I don’t have that kind od money. Can you let me know if this plan will help and give me any other helpful information?. Thank You

]]> By: Lauren Peton http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-13053 Lauren Peton Tue, 17 Mar 2009 18:32:06 +0000 http://loanworkout.org/?p=2927#comment-13053 We live in a pocket of bad foreclosures in MN, 32 miles from the metro. We have an ARM that we tried to Re-Fi 5X, but the value of our home dropped because of some serious local builder fraud. When the ARM adjusted last year it went up over 20% in payments. We were advised to try and 'short sale' the home, so stop making payments. That has ruined our credit. We have had no buyer for this short sale. We can't re-fi. We owe over $417,000 on a 1, 2, and 3. At least my husband & I have great jobs and earn $125,000 a year. We have extreme consumer debt and have to file for bankruptcy. We have been trying to work with Nation Star to modify the loan, they don't return our calls. We had paid without a glitch for 5 years until the ARM adjusted. We had great credit up until this point of being advised to try and sell the house. Who over-sees the bank when they don't work with you? Can a relative come in a offer a short sale and rent back to us? We live in a pocket of bad foreclosures in MN, 32 miles from the metro. We have an ARM that we tried to Re-Fi 5X, but the value of our home dropped because of some serious local builder fraud. When the ARM adjusted last year it went up over 20% in payments. We were advised to try and ’short sale’ the home, so stop making payments. That has ruined our credit. We have had no buyer for this short sale. We can’t re-fi. We owe over $417,000 on a 1, 2, and 3. At least my husband & I have great jobs and earn $125,000 a year. We have extreme consumer debt and have to file for bankruptcy. We have been trying to work with Nation Star to modify the loan, they don’t return our calls. We had paid without a glitch for 5 years until the ARM adjusted. We had great credit up until this point of being advised to try and sell the house. Who over-sees the bank when they don’t work with you? Can a relative come in a offer a short sale and rent back to us?

]]> By: Ms j http://loanworkout.org/2009/02/president-obama%e2%80%99s-foreclosure-prevention-plan-explained/#comment-12832 Ms j Thu, 12 Mar 2009 06:08:23 +0000 http://loanworkout.org/?p=2927#comment-12832 I have not heard anything about commercial property. where is the help for mixed use commercial property for those who are facing forclosure with commercial property. Where do I go for help. I have a private lender. I have not heard anything about commercial property. where is the help for mixed use commercial property for those who are facing forclosure with commercial property. Where do I go for help. I have a private lender.

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