It is becoming very clear that this MHA plan is a joke, and it was well thought out in the banks and servicers favor. The statement is true! they are picking and choosing who they want to help, and there seems to be no clear pattern on how they decide on who to help. Its very clear you need to have good credit to get a refi thru the plan, well that eliminates several million of us thanks to the servicers telling us to fall behind before they will help. The modification part of the plan is a crap shoot, you have better chance of winning the lotto! before getting a decent affordable mod, and thats if they even offer you one. To have any chance of keeping our homes we need 1) low interest rate. The rates are low, but they can do better to help people out. There are 6 million people out of work, so the economy is not going to get better for long time, my opinion not for several years at least. 2) A principle reduction is a must! How can washington have us accept the idea our homes no longer have any value/equity, and then expect us to stay in them! In the meantime, banks will be making millions in interest, but we won't have anything to build on, and something to leave for our childrens future. From what I have been reading, it will take decades for us to recover out losses. I have a great idea, washington has handed out trillions to AIG, banks, and servicers. If the gov gave each u.s. resident one million dollars that would positively restart the economy, right? Bailing out the greed that got us here, won't help and nothing will ever change. REVOLT!!! write and call your gov officials, and let them know.
Tono
