Comments on: Who Does Obama’s Foreclosure Fix Really Help?

By: al

al — Tue, 10 Nov 2009 17:28:35 +0000

first time buyers are the only ones benefitting from Obama’s Stimulus Recovery act. I cant get my lender to modify my loan which is 250000 upside down so i am defaulting 12-01 and i hope i live 12 months freeeeeeeee and then im going down to live in Mexico and rent a 4 bedroom home for 700 near the beach instead of 37000 a year to Wells Fargos greedy selfish CEO’s i will retire with no debt and hopefully live stress free in my recently retired years

By: Constance

Constance — Fri, 09 Oct 2009 20:49:15 +0000

AFter a lot of blah, blah, blah from Wachovia, I now just received my reinstatement letter from them (got 7 days after dated). HELP! I have a Texas Equity Loan and some at Wachovia say it will never go over to Wells Fargo while some at Wells Fargo say “no problem.” I don’t have 2 loans. I have ONE loan where I got money from my equity (8 years ago) and my home is now worth $40,000.00 more than I owe on it. I was behind on ONE payment from being in the hospital but after promises of holding off and waiting for HAMP, they finally realized I didn’t have a FNMA or Freddie Mac loan! (They don’t show what type of loan I have in their computers?? Then, after 3 months, couldn’t make a partial loan and then was told again “Wait for hamp!” Then, suddenly, you’re in foreclosure and we’ve added another $1,017.00 for attorney fees and you have SIX days to come up with a program that we may or MAY NOT approve (repayment) OR pay all $5,000.00+ owed.

ANYONE HAVE ANY ADVISE OR HAD THE PROBLEM AND GOT IT RESOLVED? I need help! My sister-in-law is an attorney but, unfortunately, she’s the attorneys that are foreclosing people, not saving people.

2 likes

By: Margaret K.

Margaret K. — Wed, 17 Jun 2009 20:20:15 +0000

I meant 140,000 dollar home.

By: Margaret K.

Margaret K. — Wed, 17 Jun 2009 20:18:27 +0000

I know a family member who makes over 150,000 a year and has nearly foreclosed on his home 3 times. This last time they were bailed out by Obama’s plan. They made the stupid decision to go to a more expensive home while they still had a high mortgage to pay on the previous home. They got a fixed mortgage rate, but their lifestyle did not change. They purchased new furniture, new car, buy all kinds of toys and clothing whenever they feel like doing so. They borrow money from relatives to pay the minimum on credit cards, and give lavish gifts to family members getting married or having a baby. What is wrong with this picture? It is their own fault they got into this mess. Now they are being given a break, but who keeps track of their personal spending? Why should we give a break to those who do not care how they spend money.

They went from a 14,000 dollar home to a home around 500,000. What is with some people? There are just too many greedy people out there.

1 like

By: Steph

Steph — Mon, 15 Jun 2009 15:40:09 +0000

I was laid off from a good-paying job. I am currently working and making far less money that I was when I bought my home. This is the only job I have been able to find and my mortgage company told me I did not qualify for any type of loan modification because my income is now too low. Before I was laid off, I had no trouble even paying extra toward my principal each month. My loan was backed by Fannie Mae, but it looks like Chase will be foreclosing next month. I didn’t know there was a minimum income to qualify for loan modification. I am not sure who this program is supposed to help, but it sure isn’t those affected by the massive number of lay-offs in the country. I took a lower paying job so I would at least be working instead of doing nothing, and I am still actively searching for a better paying job. It’s going to be much more difficult to find a better job with no roof over my head anymore….

By: Denise Kuna

Denise Kuna — Wed, 29 Apr 2009 04:29:46 +0000

Is there help for those in forclosure already with a hired lawyer

By: Lee Sherman

Lee Sherman — Fri, 03 Apr 2009 17:04:28 +0000

@Dillion write to me, lee@mint.com if you are interested in contributing to the Mint blog.

By: Dillion

Dillion — Fri, 03 Apr 2009 03:17:33 +0000

Is there a way to become a content writer for the site?

By: connetic

connetic — Wed, 01 Apr 2009 01:40:42 +0000

this wont help unless there are support groups like 99problems urban farming group. this could help everyone with he financial crisis. Bebo.com/99ProblemsDotOrg

By: FinancialServicesRenoNV

FinancialServicesRenoNV — Sat, 28 Mar 2009 22:53:23 +0000

Greetings all members,

I would just like to say hello and let you know that I’m happy to be a member – been a lurker long enough

Hope to contribute some and gain some knowledge along the way….