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February 20, 2009

Comments

Melvin Plontz

"Fannie Mae and Freddie Mac will be permitted to purchase new first mortgage loans of up to 105% of the current market value of properties, allowing homeowners to take advantage of historically low interest rates by refinancing existing debt, thus reducing monthly payments."

I can only speak for South Florida - but the 105% does not work here, where for about 3 years running, property values have been declining in the double digit percentages.

On the other hand, I have yet to see a good analysis of the forecast impact of expanding cram-downs to primary residence mortgages - but the benefit that will be to homeowners will probably be offset (more than offset?) by the lending institutions it takes down.

Anna K. Larson

We, at LegalMatch.com, are encouraged that the FTC has recently implemented a new crackdown on foreclosure equity and loan modification scams, particularly those firms that have leveraged the "Hope Now" Alliance name. We've literally had an explosion of requests from our customers during the past 12 months asking for experienced attorneys to assist them with the foreclosure process.

Steve Dye


Looks like I followed one of your posts. I find this plan a bit late but still worth a try...

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Great article , thanks to track such problem.
Obama-loanmodification; Once qualify, apply: http://www.obama-loanmodification.com

Reene Bolton

it was really nice post..it will help for sure..

Chris parker

Nice Article; Obama loan modification is the federal government’s answer to the rising need of preventing foreclosures for American homeowners. http://www.obama-loanmodification.com

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