Fannie Mae - Payment Reduction Plan Announced

[jojolala]

Is this on another thread somewhere? I see a new "plan" from Fannie dated Oct 20. If someone would point me to the correct thread, I'll catch up.

Announcement 09-30 details the retirement of the HomeSaver Forbearance™ and conversion to the Payment Reduction Plan™ as the new interim foreclosure prevention solution in Fannie Mae's Workout Hierarchy for borrowers not eligible for the Home Affordable Modification Program. Find out the advantages, requirements, and incentives.

Reading through it, it appears to give new instructions to servicers:
https://www.efanniemae.com/sf/guides.../2009/0930.pdf

Thanks!

[jojolala]

I'll answer my own question and see that there is mention of this over on the Loan Modification forum, and I think I will write my next letter to the exec office over at Fannie Mae as well as to Ms. Doseour and my negotiating contacts.
I feel like quitting and sending the keys back, but then I feel like there will ultimately be sweeping measures in order to get past this turmoil, that is getting notice now, thanks to this forum.
Don't you think the peons at BofA are glad that the top 25 earners at their company will not be getting the compensation they haven't earned?
I'll share my letter with y'all. But now, I'm going to go out in the overcast and pull my weeds.