More borrowers in trouble despite federal help

[CaféAuLait]

More borrowers in trouble despite federal help

WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.




More borrowers in trouble despite federal help - Real estate- msnbc.com

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

[oreo]

More borrowers in trouble despite federal help

WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.




More borrowers in trouble despite federal help - Real estate- msnbc.com

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

And here's the troubleing part of that article:

agency Fitch Ratings projects that about two-thirds of borrowers with permanent modifications under the Obama plan will default again within a year after getting their loans modified.

Obama's flood the basement economics at work---

 

[2Parties]

I love the wording of the media. I'd word it "because of" not "despite". I guess they know who butters their biscuit.

 

[oreo]

I love the wording of the media. I'd word it "because of" not "despite". I guess they know who butters their biscuit.

Yep

 

[2Parties]

Just like "Economy does not completely collapse because of spending bill passed by congress" when in reality it's "Economy does not completely collapse despite spending bill passed by congress"...

Propaganda rules.

 

[uscitizen]

More borrowers in trouble despite federal help

WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.




More borrowers in trouble despite federal help - Real estate- msnbc.com

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

And here's the troubleing part of that article:

agency Fitch Ratings projects that about two-thirds of borrowers with permanent modifications under the Obama plan will default again within a year after getting their loans modified.

Obama's flood the basement economics at work---

Yep, no jobs or underemployment works that way.


BOOSH!!!!

 

[oreo]

More borrowers in trouble despite federal help

WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.




More borrowers in trouble despite federal help - Real estate- msnbc.com

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

And here's the troubleing part of that article:

agency Fitch Ratings projects that about two-thirds of borrowers with permanent modifications under the Obama plan will default again within a year after getting their loans modified.

Obama's flood the basement economics at work---

Yep, no jobs or underemployment works that way.


BOOSH!!!!

And as we see now--the 787 BILLION in economic stimulus that really wasn't didn't help those unemployed or underemployed.

Obama's flood the basement economics has been an absolute failure.

 

[uscitizen]

And here's the troubleing part of that article:

agency Fitch Ratings projects that about two-thirds of borrowers with permanent modifications under the Obama plan will default again within a year after getting their loans modified.

Obama's flood the basement economics at work---

Yep, no jobs or underemployment works that way.


BOOSH!!!!

And as we see now--the 787 BILLION in economic stimulus that really wasn't didn't help those unemployed or underemployed.

Obama's flood the basement economics has been an absolute failure.

Not to keep their home mortage paid up, but maybe the around 2 years of unemployment insurance helped to house them somewhere.

 

[Avatar4321]

Maybe because the federal government was never designed or meant to help them with their financial trouble.

 

[ba1614]

I know I'm shocked to see people who get bailed out of their problems, (so they can keep the lifestyle they couldn't afford and remember it at the voting booth), get right back into trouble again. Who would've thought that would happen?

 

[Skull Pilot]

For the cost of the so called stimulus package, TARP and the other various bail outs the government could have paid off nearly every mortgage in the country.

Now that would have been a stimulus package.

 

[Gremlin-USA]

More borrowers in trouble despite federal help

WASHINGTON - The Obama administration's flagship effort to help people in danger of losing their homes is falling flat.

More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds the number of people who have managed to have their loan payments reduced to help them keep their homes.

More borrowers in trouble despite federal help - Real estate- msnbc.com

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

There is a flaw in the BO Plan, does one not need a Job to get a Loan Modification?

It is great to get a 2% Interest rate, but you still need a Job to make a House Payment Where are the promised Jobs?


.

 

[masquerade]

The man was a community organizer. He was in the Senate long enough to have a cup of coffee before he was running for President. He has absolutely no business management experience or background. He has zip as far as leadership skills go and he brought all his cronies from Chicago in to be his advisors.

Is anyone really surprised by this?

I'm not.

The man was NEVER QUALIFIED to be President!
He still isn't!
He sucks at his job!

 

[Gatekeeper]

For the cost of the so called stimulus package, TARP and the other various bail outs the government could have paid off nearly every mortgage in the country.

Now that would have been a stimulus package.

Has to make one wonder doesn't it? Toss in all the overpaid 'stimulus monies' given to other countries for decades that give us the finger while receiving it.

Many are also losing their homes that are 'on the edge' financially, from the ridiculous increases in property taxes etc. Very simply stated,if the state or individual towns don't have the money for all their services wouldn't it also make sense that most of the residents IN those respective areas are also struggling to make ends meet?

When does it end? When each taxpayer just gives their paychecks to the state and they get coupons for room and board and gas? The system is overburdened with fat, inefficiency and incompetent leadership in general. It's going to take someone with enough balls to implement plans to put the brakes on the bullshit, like here in New Jersey, but it's going to take a very long time. So far we have not seen ANY indication in Washington D.C. that anyone has a clue, the spending seems, IS, uncontrolled and without direction.

Do I have any solutions? NO, of course not, in my opinion,the government is so deep in their backroom deals here and around the world nothing is going to be resolved from this 'administration of transparency'.

 

[topspin]

throw the bums out of the houses and the offices.

Obama's policy was NOT at total failure. For 1 trillion they said they'd get unemployment down to 8%, which didn't happen. They got it down from 10% to 9.9 or 9.8%. Jezz what you expect for a lousy trillion.

 

[Douger]

What they REALLY need is a "war on repossesions"
That'll be really successful.........like the war on terrah, oil spills, poverty, hunger and drugs.
Opium and heroin production and distribution — Global Collaborative

 

[editec]

The plan sucked to begin with.

It served the banks more than it served the aggreieved homeowners.