Comments on: Obama Short Sale Plan Avoids Foreclosure with Less Debt http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/ Wed, 08 Feb 2012 08:45:41 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Barb Thomas http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1993 Barb Thomas Wed, 07 Apr 2010 18:20:48 +0000 http://ecreditdaily.com/?p=2223#comment-1993 Reading all the above comments just disallusions me even more. I gave up a loan remodification because the process seemed to be going nowhere after months and months. I am $50000 plus upside down after putting $45000 on my home when purchased in 2005. Because I am currently in bankruptcy, I checked on this new plan hoping it might help me to save some of the damage to my credit. From what I read above, even if it is possible to sign up, I don't see much hope for a positive benefit. Reading all the above comments just disallusions me even more. I gave up a loan remodification because the process seemed to be going nowhere after months and months. I am $50000 plus upside down after putting $45000 on my home when purchased in 2005.

Because I am currently in bankruptcy, I checked on this new plan hoping it might help me to save some of the damage to my credit. From what I read above, even if it is possible to sign up, I don’t see much hope for a positive benefit.

]]> By: arun http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1860 arun Thu, 01 Apr 2010 01:45:35 +0000 http://ecreditdaily.com/?p=2223#comment-1860 The banks are ripping us off and the Government and no one wants to do anything about it. Did you know that the banks can put you in foreclosure even if you make your payments on time and you go to your congressman and they say sorry. They have a clause in every loan that if the property value lowers than the debt they can call the loan and there is nothing you can do about it even if you make your payments. PNC bank which is a TARP Funded bank just gave its employees bonuses and promotions on the basis of the number of Forbearance agreements and foreclosures they bring in. They take our money and then charge us for forebearance and give themselves bonuses and their are NO REGULATIONS. If Obama Plan really wanted to do something it shouldrequire all banks to return all forebearance fees to the people and there can not be any bonuses or promotions on basis for Foreclosures and forebearance agreements initiated by its employees for all TARP funded banks PNC bank should not only be penalized but also sued for mal practice, How would they feel if they were given a forebearance agreement by the US Goverment for all the TARP funds which is tax payers money. Until the goverment is for the people these banks will keep scaming us. The banks are ripping us off and the Government and no one wants to do anything about it. Did you know that the banks can put you in foreclosure even if you make your payments on time and you go to your congressman and they say sorry. They have a clause in every loan that if the property value lowers than the debt they can call the loan and there is nothing you can do about it even if you make your payments. PNC bank which is a TARP Funded bank just gave its employees bonuses and promotions on the basis of the number of Forbearance agreements and foreclosures they bring in. They take our money and then charge us for forebearance and give themselves bonuses and their are NO REGULATIONS. If Obama Plan really wanted to do something it shouldrequire all banks to return all forebearance fees to the people and there can not be any bonuses or promotions on basis for Foreclosures and forebearance agreements initiated by its employees for all TARP funded banks PNC bank should not only be penalized but also sued for mal practice, How would they feel if they were given a forebearance agreement by the US Goverment for all the TARP funds which is tax payers money. Until the goverment is for the people these banks will keep scaming us.

]]> By: Avoid Foreclosure With Newly Announced Government Short Sale Plan http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1632 Avoid Foreclosure With Newly Announced Government Short Sale Plan Wed, 24 Mar 2010 23:16:47 +0000 http://ecreditdaily.com/?p=2223#comment-1632 [...] Obama Short Sale Plan Avoids Foreclosure with Less Debt | ecreditdaily.com [...] [...] Obama Short Sale Plan Avoids Foreclosure with Less Debt | ecreditdaily.com [...]

]]> By: Virginia http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1543 Virginia Mon, 22 Mar 2010 11:06:33 +0000 http://ecreditdaily.com/?p=2223#comment-1543 To Sarah: A 'short' sale means the house is sold for less than the outstanding mortgage balance due. If the mortgage is paid, the house can be sold for whatever the market is willing to pay for it, regardless of the seller's opinion of its value. To Sarah: A ‘short’ sale means the house is sold for less than the outstanding mortgage balance due. If the mortgage is paid, the house can be sold for whatever the market is willing to pay for it, regardless of the seller’s opinion of its value.

]]> By: Steve Polozki http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1357 Steve Polozki Mon, 15 Mar 2010 22:53:05 +0000 http://ecreditdaily.com/?p=2223#comment-1357 Short sales seem like the government equivalent of a cop-out to a crappy plan to begin with! They should fix their initial problems before they start making newer ones to cover up existing ones! Granted, I've worked out a loan mod, I'm still worried about it being permanent or having them decline it... like most people. I got a 3 month extension on my mortgage and have made great strides in negotiations with B.O.A. (bank of america) thanks to my HAMP specialist. I read another article on AOL's housing watch ( http://www.housingwatch.com/2010/03/02/web-site-cuts-through-hamp-redtape/ ) and the website freehampreport.com gave me a free eligibility test, told me I was eligible for a loan mod. and supplied me with easy software to fill out the forms. My bank rep actually said "this is the clearest and best filed form I've worked with yet! :-) I got the expert package with freehampreport.com cause it included a live, personal HAMP specialist to handle all my paperwork, filing, negotiations, and I can call and speak to him anytime I have a question or want an update! For a mere $495, I'm getting through the process faster than I could've alone and they guarantee it or money back! Its better than me short selling my home or just walking away... and ESPECIALLY doing all that tedious paperwork myself. Short sales seem like the government equivalent of a cop-out to a crappy plan to begin with! They should fix their initial problems before they start making newer ones to cover up existing ones!
Granted, I’ve worked out a loan mod, I’m still worried about it being permanent or having them decline it… like most people. I got a 3 month extension on my mortgage and have made great strides in negotiations with B.O.A. (bank of america) thanks to my HAMP specialist. I read another article on AOL’s housing watch ( http://www.housingwatch.com/2010/03/02/web-site-cuts-through-hamp-redtape/ ) and the website freehampreport.com gave me a free eligibility test, told me I was eligible for a loan mod. and supplied me with easy software to fill out the forms. My bank rep actually said “this is the clearest and best filed form I’ve worked with yet! :-) I got the expert package with freehampreport.com cause it included a live, personal HAMP specialist to handle all my paperwork, filing, negotiations, and I can call and speak to him anytime I have a question or want an update! For a mere $495, I’m getting through the process faster than I could’ve alone and they guarantee it or money back! Its better than me short selling my home or just walking away… and ESPECIALLY doing all that tedious paperwork myself.

]]> By: Sarah http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1355 Sarah Mon, 15 Mar 2010 20:39:10 +0000 http://ecreditdaily.com/?p=2223#comment-1355 I would be interested to know if there is any benefit of the short sale plan for those who have their house paid off. If anyone knows please let me know. I would be interested to know if there is any benefit of the short sale plan for those who have their house paid off. If anyone knows please let me know.

]]> By: eCreditDaily:Obama Short Sale Plan Avoids Foreclosure with Less Debt « Mortgage Fraud Musings http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1291 eCreditDaily:Obama Short Sale Plan Avoids Foreclosure with Less Debt « Mortgage Fraud Musings Fri, 12 Mar 2010 17:06:52 +0000 http://ecreditdaily.com/?p=2223#comment-1291 [...] http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/ [...] [...] http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/ [...]

]]> By: Elizabeth Chin http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1271 Elizabeth Chin Thu, 11 Mar 2010 16:54:02 +0000 http://ecreditdaily.com/?p=2223#comment-1271 Short sale Plan!!!??? What happened to helping people KEEP their homes? I can almost see them in DC throwing their hands up in the air and saying well since we can't make the banks help the people stay in their homes - lets help them get them out, but we can only help them a little. We can only help a few and we will put a lot of red tape and stiplulations in this so even fewer will qualify. What is wrong with this picture? What has happened to our country??? My friend has been waiting for over a year for the bank to make a decision whether he qualifies for a modification or not. They will not give him an answer because there is nothing that legitimately disqualifies him and yet they won't foreclose either always stating that it is in the investors hands. An investor that is overseas is controlling the decision on whether a single dad and his 2 little sons in California can continue to live in their home or not. We are just a number in a sea of litigation and bureaucracy. We have sold our souls for profit and have lost control of this beautiful country. We have allowed corporations greed to take over at the sacrifice of our own peoples comfort and dreams. What happened to the days of peaceful protests and standing up for what we have worked so hard for? A free America? I guess when you live in a cardboard box under a bridge or in an alley because you have lost your job and your home, then that is what is NOW our free America. Short sale Plan!!!??? What happened to helping people KEEP their homes? I can almost see them in DC throwing their hands up in the air and saying well since we can’t make the banks help the people stay in their homes – lets help them get them out, but we can only help them a little. We can only help a few and we will put a lot of red tape and stiplulations in this so even fewer will qualify. What is wrong with this picture? What has happened to our country??? My friend has been waiting for over a year for the bank to make a decision whether he qualifies for a modification or not. They will not give him an answer because there is nothing that legitimately disqualifies him and yet they won’t foreclose either always stating that it is in the investors hands.
An investor that is overseas is controlling the decision on whether a single dad and his 2 little sons in California can continue to live in their home or not. We are just a number in a sea of litigation and bureaucracy. We have sold our souls for profit and have lost control of this beautiful country. We have allowed corporations greed to take over at the sacrifice of our own peoples comfort and dreams. What happened to the days of peaceful protests and standing up for what we have worked so hard for? A free America? I guess when you live in a cardboard box under a bridge or in an alley because you have lost your job and your home, then that is what is NOW our free America.

]]> By: Click Here For Ways To Stop Foreclosure http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1260 Click Here For Ways To Stop Foreclosure Wed, 10 Mar 2010 22:07:24 +0000 http://ecreditdaily.com/?p=2223#comment-1260 Will HAFA really work? Time will tell.....I suggest you all prepare for the worst. Will HAFA really work? Time will tell…..I suggest you all prepare for the worst.

]]> By: Obama Short Sale Plan Avoids Foreclosure with Less Debt « GKRCORP BLOG http://ecreditdaily.com/2010/03/obama-short-sale-plan-avoids-foreclosure-debt/comment-page-1/#comment-1258 Obama Short Sale Plan Avoids Foreclosure with Less Debt « GKRCORP BLOG Wed, 10 Mar 2010 20:37:08 +0000 http://ecreditdaily.com/?p=2223#comment-1258 [...] click here for more Comments (0) [...] [...] click here for more Comments (0) [...]

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