Comments on: Mortgage Bankruptcy Cramdown = Washington Showdown http://loanworkout.org/2009/03/mortgage-bankruptcy-cramdown-washington-showdown/ - Free Mortgage, Auto and Student loan Calculators by LoanWorkout.org Wed, 23 May 2012 16:08:16 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: CC http://loanworkout.org/2009/03/mortgage-bankruptcy-cramdown-washington-showdown/#comment-17510 CC Mon, 19 Oct 2009 14:31:30 +0000 http://loanworkout.org/?p=3252#comment-17510 Finally, a good idea. This bill gives new hope for the many people that are facing foreclosure on their upside down homes. There is really no incentive for a struggling family to delay walking away from an upside down home they can no longer afford. It doesn't make a lot of sense for them to stay in a house when they owe tens of thousands more than it's worth. This bill would help them stay in their homes with a mortgage they could afford. It would also help the banking industry avoid foreclosure, which is an exorbitant expense for them. This definitely would be a win - win situation for everyone. I sincerely hope this bill passes.. Finally, a good idea. This bill gives new hope for the many people that are facing foreclosure on their upside down homes. There is really no incentive for a struggling family to delay walking away from an upside down home they can no longer afford. It doesn’t make a lot of sense for them to stay in a house when they owe tens of thousands more than it’s worth. This bill would help them stay in their homes with a mortgage they could afford. It would also help the banking industry avoid foreclosure, which is an exorbitant expense for them. This definitely would be a win – win situation for everyone. I sincerely hope this bill passes..

]]> By: Charles Brobey http://loanworkout.org/2009/03/mortgage-bankruptcy-cramdown-washington-showdown/#comment-14768 Charles Brobey Sat, 16 May 2009 02:13:18 +0000 http://loanworkout.org/?p=3252#comment-14768 I own a townhouse in Egg harbor Township in New Jersey.The house was bought in December, 2006. I have been on time with my mortgage payment since then until October,2008 when started facing financial problem. Ever since I have been paying $1500 instead of $2275 a month. I called my Bankers in September,2008 when I realized I was going to have a problem(at that time I was on time with my payment). My Bankers,Countrywide, told me I was not in default and so nothing could be done for. Then in April, 2009 when I had paid $1500/month for 7 months I called them again for help, I was told since I was in default I could not be helped.I must clear all outstanding debts before I can get any assistance.I have furnished my Bankers with details of income and expenditure but to no avail. It appears to me that my Bankers simply do not want to help, they just want to foreclose on my home and throw my family into the streets. I urge the Senate to expedite action on the Mortgage Bankruptcy Bill which remains the last hope for many homeowners who are being frustrated by the Banks. Thank you. I own a townhouse in Egg harbor Township in New Jersey.The house was bought in December, 2006.
I have been on time with my mortgage payment since then until October,2008 when started facing financial problem. Ever since I have been paying $1500 instead of $2275 a month.
I called my Bankers in September,2008 when I realized I was going to have a problem(at that time I was on time with my payment).
My Bankers,Countrywide, told me I was not in default and so nothing could be done for.
Then in April, 2009 when I had paid $1500/month for 7 months I called them again for help, I was told since I was in default I could not be helped.I must clear all outstanding debts before I can get any assistance.I have furnished my Bankers with details of income and expenditure but to no avail.
It appears to me that my Bankers simply do not want to help, they just want to foreclose on my home and throw my family into the streets.
I urge the Senate to expedite action on the Mortgage Bankruptcy Bill which remains the last hope for many homeowners who are being frustrated by the Banks.
Thank you.

]]> By: cHERYL OF KC http://loanworkout.org/2009/03/mortgage-bankruptcy-cramdown-washington-showdown/#comment-14062 cHERYL OF KC Fri, 17 Apr 2009 07:28:51 +0000 http://loanworkout.org/?p=3252#comment-14062 I am so disappointed in Mr. Geitner and Pres. Obama's foreclosure plan for the country. You two repeated the same as Paulsen - did not make it mandatory for lenders and banks to work with borrowers. AND THEY WILL NOT WORK WITH US. BANK OF AMERICA, got lucky and is not in prison with Mr. Madoff. Lewis has done the same fraudulent acts, but he does not have to go to prison. Lewis received $45 trillion for homeowners and he is in Japan buying an $8 million bank. He has not helped any homeowners. I think Sheila Blair should be put in charge of homeowner and foreclosures. I believe she can get the job done right. BOA is refusing my payments at the bank trying to foreclose on me. The bank collections told me I was being refused because of bankruptcy and foreclosure which got reported to credit bureus. I am so disappointed in Mr. Geitner and Pres. Obama’s foreclosure plan for the country. You two repeated the same as Paulsen – did not make it mandatory for lenders and banks to work with borrowers. AND THEY WILL NOT WORK WITH US. BANK OF AMERICA, got lucky and is not in prison with Mr. Madoff. Lewis has done the same fraudulent acts, but he does not have to go to prison. Lewis received $45 trillion for homeowners and he is in Japan buying an $8 million bank. He has not helped any homeowners.

I think Sheila Blair should be put in charge of homeowner and foreclosures. I believe she can get the job done right.

BOA is refusing my payments at the bank trying to foreclose on me. The bank collections told me I was being refused because of bankruptcy and foreclosure which got reported to credit bureus.

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