Help for homeowners who “played by the rules”
Wed, Feb 18, 2009
Have you been responsible? Yea, me too. There is new help effective March 4th, 2009 for those of us that have paid their mortgage each month, didn’t speculate and buy a bunch of properties, and still manage to be “underwater” - owe more on your mortgage than what your home is worth. If you live in the Valley - you’ve probably experienced a 25% drop in your home’s value since 2006. This could be preventing you from refiancing and/or selling.
President Obama has announced the Homeowners Stability Initiative.
Find out if you are eligible here: http://www.makinghomeaffordable.gov/
Check out the Frequently Asked Questions regarding this new foreclosure crisis fix:
http://www.whitehouse.gov/blog/09/02/18/Help-for-homeowners/
Once you jump to the link - there is another link to a few EXAMPLES - do any of these fit your situation?
President Obama gave this speech today at 10am (2/18/2009) - I really suggest finding the 19 minutes and watching it.
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Tags: homeowners stability initiative, loan modification, mortgage crisis, obama's housing plan, refinance, underwater lower payments
February 18th, 2009 at 12:39 pm
Found some other info here: http://www.treas.gov/initiatives/eesa/homeowner-affordability-plan/FactSheet.pdf