Obama's Foreclosure Plan » lenders

So Much for Progress – Foreclosure Rate Reaches Record High!

Mark — Wed, 13 May 2009 13:27:07 +0000

Last month, we talked about how the voluntary moratorium on foreclosures had come to an end, and was a strong indicator that the foreclosure crisis was about to reach out to a whole new level! Guess what… it’s happening! Today, in a writeup from Bloomburg, its being reported that the Foreclosure Rate is Hitting All-Time Highs! Their article goes on to say that this is a result of severe job loss, to which I cannot disagree. Until we can find a way to create more jobs, the cycle is only going to continue downward!

What About the Foreclosure Rescue Plan

If you watch any of the network news channels, you may actually believe that the economy is turning around and getting better, but have you talked to your friends and neighbors? While the news networks are reporting increases in new mortgages and sales figures, what they are not telling us is that they are bogus numbers! Lets see… the Obama Foreclosure Plan takes effect, millions of homeowners, upside down in their home loans apply for refinance, and since the rescue plan involves getting a new mortgage… NOW you can see why the mortgage rate goes up! They aren’t new home sales, or existing home sales, they are refi’s!

When Will it Hit Bottom?

This really depends on which news network you listen to, but many are claiming it already has! Not! According to RealtyTrac CEO James Saccacio, the drop in home values may be slowing a bit, but its likely that banks and lender seizures will increase in the coming months! “Lenders and servicers are beginning foreclosure proceedings on delinquent loans that had been delayed by legislative and industry moratoria,” Saccacio said.

Just to add to this, the unemployment rate in the US is showing no signs of slowing… no jobs = more foreclosures!

Post from: Obama's ForeClosure Plan Website

So Much for Progress – Foreclosure Rate Reaches Record High!

Working Your Way Out of a Foreclosure Problem

Mark — Sat, 02 May 2009 12:20:56 +0000

Stress at home is becoming a much larger issue than ever before! As more people lose their jobs or have to settle for lower paying positions due to company cutbacks, many of us are facing something we never thought we would, Foreclosure on our Homes! For those of us who take pride and responsibility in how we handle our finances, this is like a swift kick in the stomach as we deal with a never imagined, very serious problem!

The First Steps in Avoiding Foreclosure

If you are faced with a mortgage payment you can no longer afford to pay, one of the first things you need to do is contact your lender directly to see if they have some kind of solution for you! If you have ever let someone borrow money of your own, you know the one thing you hate the most, is not being paid back! It only gets worse and can even ruin a friendship when the person avoids your calls and just stops talking to you!

Your lender is not going to go away… and they don’t bite! Sure, they want their money just like you would, but its not personal with them! They don’t know you very well and their main interest right now is the same as yours, keeping you in your home! If you simply prefer trying to go around your lender and finding another solution, there are many loan modification services in the market right now that you may qualify for, regardless of employment status and income!

Learn Your Borrower Rights

A great way to spend an afternoon and understand the foreclosure risk for your home, is to read your actual mortgage loan documents and understand your state’s foreclosure laws. By knowing exactly what the lenders and your own rights are under state law, may just be the best info you can have in your pocket!Although the court systems just overturned a Judges right to modify your loan during a bankruptcy hearing, there are many local laws that are on your side and may keep you in your home for 3-6 months, while you get back onto your feet!

Find Help Using Third Party Services

The easiest way to avoid a foreclosure is not to let it happen at all! As you can imagine, there has been a crop of loan modification services popping up all around the country to try and help you out of this problem! Of course, they make money by matching people who may be in foreclosure trouble with lenders who are willing to help, but many of these new loan servicing companies have an inside track to the right lenders and can make the process quick, easy, and painless to you! With nothing to lose, you can get started by filling out a simple web form, and let them go to work for you today!

Post from: Obama's ForeClosure Plan Website

Working Your Way Out of a Foreclosure Problem

Obama’s Mortgage Foreclosure Plan set to be Delivered Today!

Mark — Wed, 18 Feb 2009 14:06:37 +0000

Today is the day many homeowners and lenders have been patiently awaiting! During his campaign, President Obama addressed several key issues he was going to immediately tackle when he got to the White House… one of those issues, is the Foreclosure Crisis in America! Later today in Mesa Arizona, President Obama will hold a press conference to divulge all the juicy details about the foreclosure plan! Word has it the resort where he will deliver the speech, is in foreclosure as well! Of course, until is it officially released, every below is just a bit of speculation, but sources within the Obama camp have trickle fed the following details.

With the Obama Foreclosure Prevention Plan ready to be delivered to the people this morning, the one main question we are patiently awaiting an answer to: Will the Plan Save my Home?

Cost of Foreclosure Plan

Are you Ready? $50 Billion Dollars!

Details to Follow

The unveiling of the Obama Foreclosure Plan comes just one day after he signed into law a $780+ billion dollar stimulus bill! Wall Street took no notice of the newest economic recovery stimulus and markets plunged on Tuesday anyhow! Later today, we will outline every phase of the new plan… and look at just how and who it will benefit!

Post from: Obama's ForeClosure Plan Website

Obama’s Mortgage Foreclosure Plan set to be Delivered Today!