What is this Guy Thinking ?
What is He Thinking?
H.A.R.P. was put into law last year by our President Obama. It was placed into law so that people could Refinance there mortgage up to 125% of the current value of there home. Our President told us that this would allow people to refinance there mortgage that was underwater due to the value.
However, here is the problem. People are doing the following:
1. Some are first trying to do Loan Modification thru their lender only to find it will not work.
2. When they can not get a Loan Modification the they are trying to sale their property thru a Short Sale.
3. When they discover they cannot get a buyer or the bank will not agree to the Short Sale, then they are allowing the house to go into a Foreclosure.
4. The last thing they are trying to use is H.A.R.P. Only 20,0000 people have used any of the Governments programs and Obama sold the country on that all these programs would help 4 to 5 million people keep their homes. (It is not working)
Now…….Guess What……Obama wants to pass H.A.M.P. This will Freeze all Foreclosures by banks for 4 – 6 months. That means that the people not paying their mortgage payments can live there FREE for another 6 months.
I heard the other day that Obama is a smoker. The question is WHAT IS THIS GUY SMOKING ?
Why should all of us keep paying our mortgages when our President wants to let all of these people, that should not be in their homes, to live there FREE ? As a taxpayer we are paying for all of this.
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Comments
My own experience with people in those upside-down homes is that every single one that got behind was because of a job loss of one of the partners, divorce or illness. I’m sure there are deadbeats out there I’ve never met and don’t deserve help, but too many got behind for reasons that could happen to any one of us. All those people that I know contacted their mortgage companies in good time, tried to work out short sales (not their fault their neighborhood is upside down) with no luck.
Pls don’t blame the president — he can’t do anything without a bunch of other people involved. There are no easy answers to this mess the country is in….if at first you don’t succeed, gotta’ try, try again.
I agree in general with your point. But my point is that the govt. is out of control with the money they are wasting. Obama is a good person that is getting bad advise and the govt needs to let the Free Enterprise system work and not to try to take over our industry.
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