Obama's stimulus plan for mortgages

[joebatters]

So has anyone had help with President Obama's stimulus plan for mortgages?
I myself have applied over a month ago and haven't heard anything yet from my lender (Chase). I read a story on USA Today recently about how the lenders are jerking people around by delaying and so forth. I know when I went in to apply at Chase, nobody in there knew wtf they were talking about. I had to explain it to THEM. I went to see if I could get a loan modification or refinance and they end up trying to give me another credit card and a checking account with $25 and other crap. Just wondering what others' experiences are/were?

 

[snoop]

I was trying, failed eligibility test.

:lol:

 

[THawk+]

This plan is not going tohelp many people because of the requirments involved...

It is a bullshit plan and most of the lenders can't be bothered with it...

 

[DesertNole]

So has anyone had help with President Obama's stimulus plan for mortgages?
I myself have applied over a month ago and haven't heard anything yet from my lender (Chase). I read a story on USA Today recently about how the lenders are jerking people around by delaying and so forth. I know when I went in to apply at Chase, nobody in there knew wtf they were talking about. I had to explain it to THEM. I went to see if I could get a loan modification or refinance and they end up trying to give me another credit card and a checking account with $25 and other crap. Just wondering what others' experiences are/were?

I called Wells Fargo, with whom I currently have my mortgage, and confirmed that I qualify for the HARP program--this is the refinancing option for those who have lost all of their equity due to the correction, but are current and in good standing. I bought my house in Phoenix in Aug 2006, put 23% down, and have seen all of the equity evaporate (no HEL's or second mortgages). My interest rate is 6.625% fixed, and my homes current value is less than 105% of what I owe, so I qualify under the HARP program. The only real benefit of the program is that if you don't have to buy PMI if you currently are not required to carry it, not to mention the reduction in the interest rate. I am hoping that interest rates head back down before pulling the trigger. Wells Fargo is ready to assist.

 

[joebatters]

Well, that's good news, DesertNole, that is that Wells Fargo is read to assist you.. Not having to pay PMI every month is a nice thing, and can save you a loy of money. I think I qualify also in that my mortgage payment is
more than 31% of my monthly gross income, not counting overtime. I'm not sure if they will count OT into the equation or not. I just haven't heard anything and that article is USA Today kinda scared me, it painted the picture as though the lenders just weren't cooperating.

 

[stewie21]

Contrary to popular belief not all loan modification companies are scams. Just like lawyers and doctors there are a few that spoil the whole bunch. I own a mortgage company that does these loan mods among other things. We do not charge upfront fees and have a free consultation process.
Let me know if you guys need some help

 

[joebatters]

Stewie, are you serious? Hell yeah, I've got tons of questions. do you have a website or anything? Thanks. All this talk of loan modifications and you can refi if Freddie Mac holds your mortgage?! Man, I do not know what all that means. I live in Ohio...where is your company located? Thanks!

 

[stewie21]

Yes I do have a website: www.FamilyHomeSolutions.net
I would love to help you out, and like I said in the previous post our consultation process is absolutely free. You can also email me at jstewart@familyhomesolutions.net Our company is located in Florida, but we work with people throughout the U.S. Take care.