http://loanworkout.org/2009/03/a-solution-to-the-cramdown-impasse/ Loan Modification & Home Loan News Thu, 18 Mar 2010 00:22:31 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://loanworkout.org/2009/03/a-solution-to-the-cramdown-impasse/#comment-13630 Dianna Fri, 03 Apr 2009 22:30:12 +0000 http://loanworkout.org/?p=3686#comment-13630 We just tried to modify our FHA loan with our lender and were told they aren't modifying FHA loans as they are insured by the government. The cramdown might be our only way to save our home. We just tried to modify our FHA loan with our lender and were told they aren’t modifying FHA loans as they are insured by the government. The cramdown might be our only way to save our home.

]]> http://loanworkout.org/2009/03/a-solution-to-the-cramdown-impasse/#comment-13607 Jim Fri, 03 Apr 2009 03:24:59 +0000 http://loanworkout.org/?p=3686#comment-13607 This cramdown legislation is in the long run both good and bad. The pros are there is a forced mediation before a foreclosure auction, the bad is that the judges can assign whatever they want but in the long run the banks have too agree too these terms and amend them. Also, by doing so it pretty much is going too ensure increased interest rates in the future and stricter lender requirements. The solve all solution is not too just file BK. This cramdown legislation is in the long run both good and bad. The pros are there is a forced mediation before a foreclosure auction, the bad is that the judges can assign whatever they want but in the long run the banks have too agree too these terms and amend them. Also, by doing so it pretty much is going too ensure increased interest rates in the future and stricter lender requirements. The solve all solution is not too just file BK.

]]> http://loanworkout.org/2009/03/a-solution-to-the-cramdown-impasse/#comment-13560 Rich Wed, 01 Apr 2009 07:03:07 +0000 http://loanworkout.org/?p=3686#comment-13560 Just my opinion but I've got a different solution. The Senate hurries up and gets the 60 votes they need and joins the house in passing this bill. Then Obama signs the bill and we finally end this foreclosure crap. Sweeping loan mods remains the only solution and if bankruptcy judges is what's needed; then get this bill passed. Are 8,000 new foreclosure notices still going out everyday? Then screw the banks and worry about the American people! Just my opinion but I’ve got a different solution. The Senate hurries up and gets the 60 votes they need and joins the house in passing this bill. Then Obama signs the bill and we finally end this foreclosure crap. Sweeping loan mods remains the only solution and if bankruptcy judges is what’s needed; then get this bill passed. Are 8,000 new foreclosure notices still going out everyday? Then screw the banks and worry about the American people!

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