Did you read CNN yesterday. A predicted drop of housing prices in parts of the US expected to be 50% or more. However, the "good" news is that the population growth will continue to increase in these same areas. I guess they (CNN) forgot about these same people will not be able to afford a loan. Funny how the news is "spun".
So back to reality. There seems to be a movement to have a reduction of balances as a way out of this mess. Surprise, the movement is not by the government but by you and me. Make it a point to send a letter and a family picture to your local legislator to "drive" the point home that this housing problem is not just a "cycle" caused by a few "sub-prime" borrowers.
Helpful hint when trying to talk to your lender about a restructure of your loan. Don't take it personal. Their hourly job is to tell you NO. Remember these are people who probably do not own a home and are using their new job title to learn the modification program with your house.
Most of the modification departments are staffed by, ready LOAN OFFICERS!!!!! The same ones who jammed you into your exsiting problem. You really want that type of "expertise" helping YOU to get a better deal? I have a better idea, let your 9 year old call for you so they can "relate".
Just a thought for the day.
Obama’s Loan Modification Program
“Obama’s Loan Modification Program – How to Qualify for Help!”
http://www.obama-loanmodification.com/02/obamas-loan-modification/
Posted by: Nancy Carlson | December 21, 2009 at 02:22 AM