Here is another comment on the
FHA Secure from my other blog. I want to keep this subject and comments going, so we can really see what this will do to help people
stop foreclosure.
From Kim: Another Victim/Another Casualty?
I agree, this will not help most people in need like myself. The Politicians want to keep their blinders on. The so called unemployment rate being low only means that people who had Executive Level Jobs are still working but at Home Depot.
Yes, they have a job but now they are being forced into bankruptcy because they lost their job that was shipped overseas so that the company could save more dollars. Of course they can't afford their current debt because it doesn't support the life style they had and that they did legitimately qualify for and pay on time for years before they lost their job.
I had a Staffing Company that was literally pushed into bankruptcy after the 911 terrorist attacks. I borrowed against equity to keep my company going and tried to hold onto what ever was left. It didn't work, the economy did not rebound and it still hasn't. I had to file bankruptcy with my business and then personally because the business debt was secured by me personally. I have had my cars repossessed, my house is being foreclosed on and I am unemployed.
We started farming on the 31 acres so we could have income that way and hope the federal government USDA programs that are "supposed" to help farmers would come and help us with bringing the loan current so we could get back on track. We were deemed eligible but they denied the loan because their guidelines did not allow for refinancing of previous mortgage payments. I have written to my Congressman, Senator, President Bush, Veterans Affairs, USDA Leader, etc. and have not heard from one of them.
My husband is a veteran of the army (12 years) and we applied for Veteran Loan (he is first time home buyer not on the loan with me) we figured I could sell our house to him and then he would be on the loan. The VA approved us and then said they couldn't do the loan because of the discharged Chapter 7 bankruptcy. We would have to wait 2 years. I know I'm not the only one who has faced bankruptcy after 911 and the depression I feel we are headed for.
I figured Bush being an advocate of the Military and a farmer himself would surely do something to help us and all Middle Class America. Nothing, in fact the only reason their hasn't been a sheriff sale on our house yet is because the Courts are so backlogged with foreclosure cases that ours keeps being moved back. I figure by November or Xmas we will be out on the street homeless.
My husband earns 120K per year and I am currently interviewing for a job, we have a produce farm that we are losing and so far we have not been able to get America Servicing Company (our loan ended up with them after our first lender went bankrupt) to answer our request for a work out agreement. We are ignored by the lender we didn't ask for and we don't qualify for anything because there are no programs to save people who were forced into bankruptcy due to small businesses folding due to 911 and the economy. It is very scary what our country is going through right now and soon many of us will be homeless (Ex CEO's of companies) with no place to live and seemingly no one cares. FHA is not going to help us.
Thank you for being an advocate for this very important issue. I don't feel as alone.
09/02/2007 by Kim Gubernard
You're welcome Kim and I hope you join my forum and my fight to save peoples home's and stop foreclosure. Let's really see what the
FHA Secure will do help America's housing crisis.