Jun 15th, 2009
by John Mlnarik.
Borrowers have reportedly been on the phone for a countless number of hours waiting to talk to someone about refinancing or modifying their home loans. So, what’s the hold-up?
Have the banks not staffed their modification programs with enough people? Are they simply using the Obama Administration’s plan as some kind of collection tactic to squeeze [...]
Mar 31st, 2009
by John Mlnarik.
If your disposable income has disappeared because you have experienced a change in circumstances and are struggling to make your house payments, the Obama Administration’s plan was designed with you in mind. To qualify your home must be your primary residence, the amount you owe on your first mortgage must be equal to or less than $729,750 and you must have obtained the mortgage before January 1, 2009. Do not be surprised if you qualify. The Treasury Department’s plan released March 4th states that as many as 4 Million homeowners will receive assistance.
