PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? - Page 12 - Loan Modification Forum

ama125 · 10-26-2009, 08:40 PM

I found the details on the newly revamped Hope for Homeowner's Program (see document 09-43): U.S. Department of Housing and Urban Development (HUD)

I need a Reader's Digest condensed version. To my understanding, when reviewing people for HAMP, the servicers are also supposed to determine eligibility for H4H as well.

davephx · 10-27-2009, 01:23 AM

One problem with H4H is you must appraise at 96.5%-105% of mortgage so doesn't help if underwater.

nativelasvegan · 10-27-2009, 10:03 AM

Interesting on the huffington post today. Robert Reich: Breaking Up the Big Banks, and Why Congress Won't Do It

jewls · 10-28-2009, 06:24 PM

This link and post is from October 15, not sure if it has been posted, thinking it was worth posting, jewls

A Birdie On Possible Foreclosure Frauds - The Market Ticker

BadBobMo · 10-28-2009, 08:18 PM

Quote:

One problem with H4H is you must appraise at 96.5%-105% of mortgage so doesn't help if underwater.

It should help if you are way under water because they use PMV price!

ama125 · 11-01-2009, 04:59 AM

New credit reporting guidelines for HAMP go in effect today...how will this effect you? The short answer, apparently not much if you are still current but time will be the deciding factor... FICO says new mortgage changes won't hurt score

nativelasvegan · 11-02-2009, 01:59 PM

Banks seeing advantages of home short sales - Monday, Nov. 2, 2009 | 2 a.m. - Las Vegas Sun

ama125 · 11-03-2009, 07:42 PM

New HAMP amendments for Fannie Mae owned loans: https://www.efanniemae.com/sf/guides.../2009/0931.pdf

ama125 · 11-04-2009, 02:15 PM

New HAMP directive requiring written notices to borrowers...
https://www.hmpadmin.com/portal/docs...cer/sd0908.pdf

nativelasvegan · 11-04-2009, 03:49 PM

I am still trying to figure out why it is in the bank's best interest to foreclosure versus modifying loans. A lot of this stuff is really confusing, but I am beginning to see this picture a little clearer. In researching Fannie Mae and the role it plays in my journey, I came across a very interesting article. Although it was written years ago, it is very good. The fact that it was written years ago is even more interesting that the impending doom was seen by a lot of people and simply ignored.

What Does Fannie Mae Do?

THANKS2U · 11-05-2009, 05:24 PM

Here we go RIGGED REVERSE RENTALS, as I like to say

The Abusive Corrupt Criminal Banking Institutions, including Fannie Mae, now become your LANDLORDS -

And you rent your own home with no modification help.

Rent cost ? who knows whatever they want.

You have No Rights & No Tax write offs, which means you wil now be paying higher income taxes.

WHAT A HUGE MONSTEROUS MESS !

This is the future for many - NO MODS FOR YOU - YOU ALL RENT NOW

http://www.nytimes.com/2009/11/06/bu...r=yahoofinance

GREEDY SELF SERVING SWINDLING BAASTARDS

This is like STALINS RUSSIA

bloominga · 11-05-2009, 06:25 PM

Just like a chop shop but LEGAL!!! This is really getting to be too much to absorb at one time. I'm going to have to save these links and 'savor' a couple at a time!!!

ama125 · 11-05-2009, 07:15 PM

Quote:

Originally Posted by THANKS2U

Here we go RIGGED REVERSE RENTALS, as I like to say

The Abusive Corrupt Criminal Banking Institutions, including Fannie Mae, now become your LANDLORDS -

And you rent your own home with no modification help.

Rent cost ? who knows whatever they want.

You have No Rights & No Tax write offs, which means you wil now be paying higher income taxes.

WHAT A HUGE MONSTEROUS MESS !

This is the future for many - NO MODS FOR YOU - YOU ALL RENT NOW

http://www.nytimes.com/2009/11/06/bu...r=yahoofinance

GREEDY SELF SERVING SWINDLING BAASTARDS

This is like STALINS RUSSIA

If I ever need to tell someone off, I'm contacting you to do the job!

nativelasvegan · 11-05-2009, 07:24 PM

I agree ama. And I thought I had a temper. I like it. Like my son sometimes says. There's something odd about you................ and I like it! HA!
I posted earlier about this crap. I do believe my response was "when pigs fly." Like I would pay Fannie Mae to rent my home at 31% of income. F fannie mae and the banksters who service their loans.

davephx · 11-05-2009, 11:49 PM

For some folks the rental makes transition easier if they do not qualify for HAMP or alternatives. The report is clear that only a small number will participate in this program.

It is an alternative to, not to replace mods

so-cal-gal · 11-06-2009, 12:01 AM

Quote:

Originally Posted by nativelasvegan

I am still trying to figure out why it is in the bank's best interest to foreclosure versus modifying loans. A lot of this stuff is really confusing, but I am beginning to see this picture a little clearer. In researching Fannie Mae and the role it plays in my journey, I came across a very interesting article. Although it was written years ago, it is very good. The fact that it was written years ago is even more interesting that the impending doom was seen by a lot of people and simply ignored.

What Does Fannie Mae Do?

The pooled, securitized notes that have investor-purchased insurance are a motivating factor in many foreclosures. It may even prove to be the motivating factor behind the reneged (breached) loan modification contracts that were issued by CW/BofA.

THANKS2U · 11-06-2009, 01:25 AM

..............................-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

LOAN MODIFICATION PROCESSES EXPLAINED

Modify My House Payment - Loan Modifications

31 % RATIO

NPV TEST ETC

Modify My House Payment - Loan Modifications

THANKS2U · 11-06-2009, 01:32 AM

Quote:

Originally Posted by davephx

For some folks the rental makes transition easier if they do not qualify for HAMP or alternatives. The report is clear that only a small number will participate in this program.

It is an alternative to, not to replace mods

The report is clear that this is ONLY the beginning

Thier leasing program wil grow like a cancer and spread out far and wide and will be a BIG not a small part of how the servicers will try to evade doing modifications.

Just another ruse, a defrauding tactic to fool more distressed borrowers who would actually qualify for HAMP or in house mods.

Yes, I agree a small percentage will truely benefit from the leasing program.

My concern is that the servicers will use this leasing option to inflict FAR more harm than good and will manipulate suffering upon qualifying modifications, which will be evaded by the servicers through this leasing scam...

THANKS2U · 11-06-2009, 01:40 AM

Quote:

Originally Posted by ama125

If I ever need to tell someone off, I'm contacting you to do the job!

LOL : )

It would be my pleasure AMA

Thank you for the compliment

Hope all is going well with you and your family

And thank you for all your hard work and dedication

Appreciatively,

Thanks2U

davephx · 11-06-2009, 01:45 AM

On another thread there is a good example of where the lease back may help someone who has a 1200+/month HOA fee which is about twice her piti as I recall.

On the other hand they may lease back with enough rent that covers it...

THANKS2U · 11-06-2009, 02:28 AM

Quote:

Originally Posted by davephx

On another thread there is a good example of where the lease back may help someone who has a 1200+/month HOA fee which is about twice her piti as I recall.

On the other hand they may lease back with enough rent that covers it...

Very good point davephx !

Then the lender would need to pay that large 1,200 HOA

I think that is Quazyquazy in Florida who is paying that high HOA fee

Thanks

BadBobMo · 11-06-2009, 06:09 AM

Go get them!

State sues 2nd mortgage servicer this year - Business First of Columbus:

THANKS2U · 11-07-2009, 05:06 PM

Professor: Fear, Shame Keep Homeowners From Defaulting | UANews.org

Professor: Fear, Shame Keep Homeowners From Defaulting | UANews.org

Feel no shame feel no blame it is all a game to the defrauding banks

There is NO WAY I would walk away. Not unless I was literally forced to do so by the sheriff in town.

This is my home.

We all have been ILLEGALY defrauded, manipulated and discriminated against.

I think the article is correct about not feeling any shame or blame for what the Banking Institutions INTENTIONALLY CAUSED.

The shame and blame and legal responsibility needs to be put back where it belongs, on the Banking Institutions and our bamboozled government, who MUST FORCE these corrupt BANKS, SERVICERS and INVESTORS, to be made accountable and do the right thing and make everyone whole again, by making our mortgages affordable - PERIOD !

My slogan is

WE WILL NOT WALK AWAY THE BANKING INSTITUTIONS MUST PAY !

dthom · 11-07-2009, 05:14 PM

Well said and Amen to that, Thanks2U!

MyHAMP · 11-07-2009, 05:26 PM

Quote:

Originally Posted by THANKS2U

WE WILL NOT WALK AWAY THE BANKING INSTITUTIONS MUST PAY !

Especially since THEY already GOT PAID for the MESS THEY MADE!

10-26-2009, 08:40 PM	#276 (permalink)
ama125 Senior Member Join Date: Jun 2009 Location: Reading, PA Posts: 1,488 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? I found the details on the newly revamped Hope for Homeowner's Program (see document 09-43): U.S. Department of Housing and Urban Development (HUD) I need a Reader's Digest condensed version. To my understanding, when reviewing people for HAMP, the servicers are also supposed to determine eligibility for H4H as well.

10-27-2009, 01:23 AM	#277 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? One problem with H4H is you must appraise at 96.5%-105% of mortgage so doesn't help if underwater.

10-27-2009, 10:03 AM	#278 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 772 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Interesting on the huffington post today. Robert Reich: Breaking Up the Big Banks, and Why Congress Won't Do It

10-28-2009, 06:24 PM	#279 (permalink)
jewls Member Join Date: Oct 2009 Posts: 10 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? This link and post is from October 15, not sure if it has been posted, thinking it was worth posting, jewls A Birdie On Possible Foreclosure Frauds - The Market Ticker

11-01-2009, 04:59 AM	#281 (permalink)
ama125 Senior Member Join Date: Jun 2009 Location: Reading, PA Posts: 1,488 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? New credit reporting guidelines for HAMP go in effect today...how will this effect you? The short answer, apparently not much if you are still current but time will be the deciding factor... FICO says new mortgage changes won't hurt score

11-02-2009, 01:59 PM	#282 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 772 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Banks seeing advantages of home short sales - Monday, Nov. 2, 2009 \| 2 a.m. - Las Vegas Sun

11-03-2009, 07:42 PM	#283 (permalink)
ama125 Senior Member Join Date: Jun 2009 Location: Reading, PA Posts: 1,488 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? New HAMP amendments for Fannie Mae owned loans: https://www.efanniemae.com/sf/guides.../2009/0931.pdf __________________ http://lbdf.lilypie.com/VX6am5.png PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS \| Petition2Congress \|

11-04-2009, 02:15 PM	#284 (permalink)
ama125 Senior Member Join Date: Jun 2009 Location: Reading, PA Posts: 1,488 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? New HAMP directive requiring written notices to borrowers... https://www.hmpadmin.com/portal/docs...cer/sd0908.pdf __________________ http://lbdf.lilypie.com/VX6am5.png PETITION TO THE U.S. GOVERNMENT FROM AMERICAN HOMEOWNERS \| Petition2Congress \|

11-04-2009, 03:49 PM	#285 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 772 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? I am still trying to figure out why it is in the bank's best interest to foreclosure versus modifying loans. A lot of this stuff is really confusing, but I am beginning to see this picture a little clearer. In researching Fannie Mae and the role it plays in my journey, I came across a very interesting article. Although it was written years ago, it is very good. The fact that it was written years ago is even more interesting that the impending doom was seen by a lot of people and simply ignored. What Does Fannie Mae Do?

11-05-2009, 05:24 PM	#286 (permalink)
THANKS2U Senior Member Join Date: Jul 2009 Posts: 192 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Here we go RIGGED REVERSE RENTALS, as I like to say The Abusive Corrupt Criminal Banking Institutions, including Fannie Mae, now become your LANDLORDS - And you rent your own home with no modification help. Rent cost ? who knows whatever they want. You have No Rights & No Tax write offs, which means you wil now be paying higher income taxes. WHAT A HUGE MONSTEROUS MESS ! This is the future for many - NO MODS FOR YOU - YOU ALL RENT NOW http://www.nytimes.com/2009/11/06/bu...r=yahoofinance GREEDY SELF SERVING SWINDLING BAASTARDS This is like STALINS RUSSIA

11-05-2009, 06:25 PM	#287 (permalink)
bloominga Senior Member Join Date: Sep 2009 Location: Georgia - 55 mi NW of Atlanta Posts: 303 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Just like a chop shop but LEGAL!!! This is really getting to be too much to absorb at one time. I'm going to have to save these links and 'savor' a couple at a time!!! __________________ http://www.petition2congress.com/2/2564/

11-05-2009, 07:24 PM	#289 (permalink)
nativelasvegan Senior Member Join Date: Sep 2009 Location: Near Austin, TX Posts: 772 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? I agree ama. And I thought I had a temper. I like it. Like my son sometimes says. There's something odd about you................ and I like it! HA! I posted earlier about this crap. I do believe my response was "when pigs fly." Like I would pay Fannie Mae to rent my home at 31% of income. F fannie mae and the banksters who service their loans.

11-05-2009, 11:49 PM	#290 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? For some folks the rental makes transition easier if they do not qualify for HAMP or alternatives. The report is clear that only a small number will participate in this program. It is an alternative to, not to replace mods

11-06-2009, 01:25 AM	#292 (permalink)
THANKS2U Senior Member Join Date: Jul 2009 Posts: 192 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? ..............................----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- LOAN MODIFICATION PROCESSES EXPLAINED Modify My House Payment - Loan Modifications 31 % RATIO NPV TEST ETC Modify My House Payment - Loan Modifications

11-06-2009, 01:45 AM	#295 (permalink)
davephx Senior Member Join Date: Jul 2009 Posts: 1,132 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? On another thread there is a good example of where the lease back may help someone who has a 1200+/month HOA fee which is about twice her piti as I recall. On the other hand they may lease back with enough rent that covers it...

11-06-2009, 06:09 AM	#297 (permalink)
BadBobMo Senior Member Join Date: Feb 2008 Posts: 194 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Go get them! State sues 2nd mortgage servicer this year - Business First of Columbus:

11-07-2009, 05:06 PM	#298 (permalink)
THANKS2U Senior Member Join Date: Jul 2009 Posts: 192 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Professor: Fear, Shame Keep Homeowners From Defaulting \| UANews.org Professor: Fear, Shame Keep Homeowners From Defaulting \| UANews.org Feel no shame feel no blame it is all a game to the defrauding banks There is NO WAY I would walk away. Not unless I was literally forced to do so by the sheriff in town. This is my home. We all have been ILLEGALY defrauded, manipulated and discriminated against. I think the article is correct about not feeling any shame or blame for what the Banking Institutions INTENTIONALLY CAUSED. The shame and blame and legal responsibility needs to be put back where it belongs, on the Banking Institutions and our bamboozled government, who MUST FORCE these corrupt BANKS, SERVICERS and INVESTORS, to be made accountable and do the right thing and make everyone whole again, by making our mortgages affordable - PERIOD ! My slogan is WE WILL NOT WALK AWAY THE BANKING INSTITUTIONS MUST PAY !

11-07-2009, 05:14 PM	#299 (permalink)
dthom Senior Member Join Date: Oct 2008 Location: St.Clair Shores,Michigan Posts: 699 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: PLEASE ONLY POST - Articles, Official Letters, Testimony, Rules and Regs. Moe - perhaps a Sticky is in order ? Well said and Amen to that, Thanks2U!

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