Obama Mortgage Plan May Be Expanded

This whole stimulus package is just part of the governments long term plan to take away the power of the people. Are we going to do something about it or be lazy and think someone else is going to do it for us? It is time for a revolution. We need to overthrow the government and take our power back. Before there is nothing we can do about it. you should check http://obamamortgage2009.blogspot.com/2009/03/obamas-mortgage-modification-do-you.html#comments

Mr. President why are the banking,and loan company not making loans as you promised they would do for the american people we are all hurting and not getting any help. Time for them to answer to you for not helping us the little people that keep them in business, maybe we should boycott their business. Check http://obamamortgage2009.blogspot.com/2009/03/obamas-mortgage-modification-do-you.html#comments

You say above that the 105% limit will be changed to perhaps 125% to qualify for a modification. Actually, this program affects refinancing, not modifications. The Making Home Affordable program has two components, one for refinancing options for those who are "underwater" in their mortgage -- this applies only to GSE loans. The second is the Home Affordable Modification program. There are no LTV limits per se to qualify for a HAMP modification.

I own a condo and have an outstanding balance of $140k, consisting of $104k primary and $36k secondary. I took the home equity to consolidate debts. At the time the property was valued at $163k but now it is valued at $134k. I'm looking to sell because i am engaged and will be moving into my fiancee's home. Check http://obamamortgage2009.blogspot.com/2009/03/obamas-mortgage-modification-do-you.html If I have a buyer who offers me within say $5-7k of the outstanding, can i agree to assume a loan on the residual and pay the bank the difference over time with interest? The same bank holds both mortgages.

If anyone has had any luck with any of these companies, could you please post it for the ones that cannot find one to work with you. We've almost lost once and just got a second chance that want last long so I need to get something done now, so if anyone knows the right number to call, i am sure a lot of people that hasn't found them would appreciate it but check out http://obamamortgage2009.blogspot.com or obamamortgage2009.blogspot.com

Shakespere would love this irony...the Shylocks are running and taking the pound (or kilo) of flesh from every Antonio/Antonia. Where ist our knight in shining armor-Obama?

Let's not fool ourselves. A photo op does not maketh a rule/act/law. Banks only want to get bailout moneys-without any strings attached- but have no desire to adhere to any non-enforceble rules that the Obama administration naively came up with. Banks must be dealt with-matter of factly-and should they be going under----let them!!!!

Anyone on this board that is defending banks and their policies-you either are a banker or you represent the one percent that have too much. Please understand the plight of the majority or just shut-up. Using your comment as an analogy-I go to a doctor with complete faith that he/she will heal my ailment. I do not believe that to defend myself from medical malpractice that I have to know about biology/medicine. The law is on my side when a wrong limb is amputated or a surgical instrument is left inside me. So why is it that financial 'gurus' expect us consumers to know all the latin/sanskrit/martian terms that the banks have come up with in order to defend ourselves from 'financial malpractice'?

GIVE ME A BREAK!!!!