Obama's Foreclosure Plan

[DrewS]

Does anyone have details on Obama's foreclosure mitigation plan, or is it still just rhetoric? All I can find so far is vague descriptions of what it would do, and it's not clear whether it's being rolled out under the TARP unmbrella, or if it has to go through congress.

[breeze]

It's the second half of the original TARP, and has already been approved by congress. You need to find a better source for your news.

[JR321]

Does anyone have details on Obama's foreclosure mitigation plan, or is it still just rhetoric? All I can find so far is vague descriptions of what it would do, and it's not clear whether it's being rolled out under the TARP unmbrella, or if it has to go through congress.

 

Look at this:

 

http://www.whitehouse.gov/blog/09/02/18/Help-for-homeowners/

 

I don't think this is going to help as many as has been promoted

[NaturalLove]

I didn't read the link provided in the post above. With that said, I was very optimistic before the details came out. I thought maybe there's a chance I won't have to declare Bankruptcy. Maybe I could keep my home and we could live happily ever after despite the significant loss in income. But now I don't feel great at all. My mortgage payment is already about 1/3 of my pre-tax income so I don't think I qualify under this plan.

[hurricanesfans27]

Further details will be out by March 4th

[jocktheglide]

this is gonna be crappy my house value has plummeted very hard from 240k to 185k...........(based on zillow estimates on sales) cant even get a refinance.

[NAN101]

My lender says they are waiting for specifics to come out on March 4th.