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ArchiveForeclosure Crisis Archive (2009–2014)Foreclosure Defense

YIPEE! OBAMA AND TIMMY HAVE A PLAN TO SAVE HOMEOWNERS FROM FORECLOSURE!

By October 24, 2011October 8th, 20263 Comments
underwater-homeowners
The federal government on Monday announced new rules that would allow many more struggling borrowers to refinance their mortgages at today’s ultra-low rates, reducing monthly payments for some homeowners and potentially providing a modest boost to the economy.The Federal Housing Finance Agency, working with the Obama administration, said that up to 1 million ” underwater” borrowers might benefit from an expanded program that targets homeowners who owe more than their properties are worth.

3 Comments

  • frustated says:
    October 25, 2011 at 2:40 am

    ” it doesn’t do anything for the now 6 million plus borrowers who are either behind on their mortgage payments or already in the foreclosure process. It also does nothing about all those foreclosed properties sitting on the books of Fannie, Freddie, the FHA and the big banks that still need to be sold and right now can only be sold at below-market prices. This plan does nothing to stop the bleeding in home prices.”

    – from Real Estate Reporter Diana Olick’s blog, on Monday, October 25, 2011 at CNBC:
    https://www.cnbc.com/id/45021347

    Reply
  • Nancy Myers says:
    December 19, 2011 at 9:32 am

    Save One Homeowner at a Time! Help to Break the Foreclosure Cycle.

    We will buy a defaulting note. This effectively makes us the bank for the homeowner. We will then have the power to give the homeowner a great deal that actually works for them. We will lower the payments AND the principal amount.

    Check This!
    https://www.indiegogo.com/Save-One-Homeowner-at-a-Time-Help-to-Break-the-Foreclousure-Cycle

    Reply
  • Ivy Brenner says:
    March 12, 2012 at 4:30 pm

    I do agree with all of the ideas you’ve presented in your post. They are very convincing and will definitely work. Still, the posts are very short for newbies. Could you please extend them a little from next time? Thanks for the post

    Reply

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