• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

More problems for home owners

hopalong

Well-known member
Perhaps they should have not gotten the loans in the first place!!!!

WASHINGTON — The Obama administration on Friday acknowledged it had underestimated the number of homeowners who fell seriously behind on their mortgage payments even after getting government help.

Treasury officials blamed the error on mortgage finance giant Fannie Mae, which acts as the program administrator for President Barack Obama's $50 billion Home Affordable Modification Program (HAMP).

The program had been criticized for its overly optimistic estimates of the number of struggling borrowers helped by its subsidies of new mortgage terms.

Tiny number lasting
The actual numbers of permanent modifications that have lasted at least nine months through the end of May is tiny: just 4,764 borrowers. And 53,041 borrowers had one for at least six months through May.

Treasury said about 14.9 percent of the 4,764 borrowers who have had a permanent modification for at least nine months by the end of May had re-defaulted on their loan. That's more than six times the 2.4 percent rate they reported on July 20.

For loans that had been permanently modified for at least six months, about 6.1 percent had re-defaulted, up from just 1.7 originally estimated. Re-defaults are defined as 90 days or more late.

For loans 60 days late and not yet in re-default, the number of borrowers in trouble is even higher.
 

cutterone

Well-known member
There are rumors floating around Washington that Obama intends to use stimulus money and pay off and forgive all these deadbeat mortgages. So far they are denighing it but it would not surprise me to see it happen as the October surprise.
 

hypocritexposer

Well-known member
cutterone said:
There are rumors floating around Washington that Obama intends to use stimulus money and pay off and forgive all these deadbeat mortgages. So far they are denighing it but it would not surprise me to see it happen as the October surprise.

It would be a NEW stimulus program, not covered by the first $800 Billion.

OT's grandson will be helping to buy someone a house. :lol:
 
A

Anonymous

Guest
hypocritexposer said:
cutterone said:
There are rumors floating around Washington that Obama intends to use stimulus money and pay off and forgive all these deadbeat mortgages. So far they are denighing it but it would not surprise me to see it happen as the October surprise.

It would be a NEW stimulus program, not covered by the first $800 Billion.

OT's grandson will be helping to buy someone a house. :lol:

the $800 billion turned into $27 trillion and almost none of it went to the american people....certainly none to save homes....homes are foreclosing today faster than last year...why?
 

hopalong

Well-known member
shaumei said:
hypocritexposer said:
cutterone said:
There are rumors floating around Washington that Obama intends to use stimulus money and pay off and forgive all these deadbeat mortgages. So far they are denighing it but it would not surprise me to see it happen as the October surprise.

It would be a NEW stimulus program, not covered by the first $800 Billion.

OT's grandson will be helping to buy someone a house. :lol:

the $800 billion turned into $27 trillion and almost none of it went to the american people....certainly none to save homes....homes are foreclosing today faster than last year...why?

Probabally just to pi$$ you off :wink: :wink:
Must be some sort of conspiricy :wink: :wink:
MUst be oldtimers fault for blaming Bush :wink: :wink:
Probabally just to pi$$ you off :wink: :wink:
 

MoGal

Well-known member
Well, I had heard figures of 13 trillion but that was back in February so it could very well be up to 27 trillion now.... I think its time the American people had an audit of all these programs.

Chuck Missler on International Prophecy conference stated the GAO (general accounting office) is already figuring income from the cap and trade for the 2012 budget.......... so you already know congress will vote it in whether the american people want it or not. Of course there will be posturing on both sides (for publicity purposes so the people will think they have some representation in Washington............ but the UN is already wanting to be overseer of the cap n trade).
-----------------------------------

Do you suppose because some courts are requiring these banks to prove ownership (and they can't) that perhaps they realize they screwed up and can't foreclose legally??????
 
A

Anonymous

Guest
hopalong said:
shaumei said:
hypocritexposer said:
It would be a NEW stimulus program, not covered by the first $800 Billion.

OT's grandson will be helping to buy someone a house. :lol:

the $800 billion turned into $27 trillion and almost none of it went to the american people....certainly none to save homes....homes are foreclosing today faster than last year...why?

Probabally just to pi$$ you off :wink: :wink:
Must be some sort of conspiricy :wink: :wink:
MUst be oldtimers fault for blaming Bush :wink: :wink:
Probabally just to pi$$ you off :wink: :wink:

http://www.nydailynews.com/money/2009/07/21/2009-07-21_bailout_watchdog_barks_over_24_trillion.html

do not be a mass media whore....close your legs and research things
 

hopalong

Well-known member
shaumei said:
hopalong said:
shaumei said:
the $800 billion turned into $27 trillion and almost none of it went to the american people....certainly none to save homes....homes are foreclosing today faster than last year...why?

Probabally just to pi$$ you off :wink: :wink:
Must be some sort of conspiricy :wink: :wink:
MUst be oldtimers fault for blaming Bush :wink: :wink:
Probabally just to pi$$ you off :wink: :wink:

http://www.nydailynews.com/money/2009/07/21/2009-07-21_bailout_watchdog_barks_over_24_trillion.html

do not be a mass media whore....close your legs and research things

Poor lil miss alter ego, sounds so much like your daddy :wink: :wink: :wink:

He is a master of saying things like that.
rape & pillage, whores, plus he has a fantasy about teabags so why not fanticize about about my open legs> :wink:

EH? :D :D :D
 
Top