New help from Obama? - Loan Modification Forum

denised · 02-19-2009, 09:14 AM

So I keep hearing about the new plans that have been decided by Obama and group for people to get their loans modified. I read who is eligible and who isn't and so on but I don't see how we participate or when. Anyone know?
I worry that this will really slow down the process now. I am working with NACA right now but want to know all options...

denised · 02-19-2009, 09:18 AM

That is funny, as I submit this question it came on the news. Looks like it's March 4th we have to wait for.

chooch · 02-19-2009, 11:40 AM

I went on Freddie Mac's website. It has a good description of the program and who qualifies. The biggest problem for me is that it obviously states NO PRINCIPAL REDUCTIONS are offered with this program. This program doesn't sound that great to me, I hope it helps some people, but I am still walking away in April.

02-19-2009, 09:14 AM	#1 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	New help from Obama? So I keep hearing about the new plans that have been decided by Obama and group for people to get their loans modified. I read who is eligible and who isn't and so on but I don't see how we participate or when. Anyone know? I worry that this will really slow down the process now. I am working with NACA right now but want to know all options...

02-19-2009, 09:18 AM	#2 (permalink)
denised Senior Member Join Date: Jan 2009 Location: Santa Cruz County, California Posts: 391 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New help from Obama? That is funny, as I submit this question it came on the news. Looks like it's March 4th we have to wait for.

02-19-2009, 11:40 AM	#3 (permalink)
chooch Senior Member Join Date: Mar 2008 Posts: 37 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: New help from Obama? I went on Freddie Mac's website. It has a good description of the program and who qualifies. The biggest problem for me is that it obviously states NO PRINCIPAL REDUCTIONS are offered with this program. This program doesn't sound that great to me, I hope it helps some people, but I am still walking away in April.

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