So you said you have a mortgage loan or a mortgage loan in your home, can't you pay? You have done 100% financing in the past two years. As a result, your house owes it more value than it has. Want to return the house to the bank? no problem! Your elected official will come to save you! After all, you are obviously the victim of situations that are beyond your control, and it is an election year!
Sorry if I sound like a late-night TV shopping show, but if you're one of the 95% of the time actually to pay for a mortgage, and realize that a home is a primary sanctuary; hear about our government Finding ways to bail out homeowners is at least disturbing. The first is hope that the plan now - aims to help outdated homeowners refinance into more affordable mortgage loans by requiring lenders to provide exercise programs. The problem is that most lenders are always willing to help overdue borrowers as long as they take the initiative to call and seek help. I can't think of a single lender who wants to recover property through foreclosure. Banks are not in the real estate business and they borrow money commercially. Hopefully the plan can now work if it is used to prevent pending interest rates from rising while borrowers arrange to sell the property or repay other debts so that they can afford payment adjustments. If it is used to pay overdue payments and transfers the debt to a loan, it can also work so that the borrower can catch up and get a clean slate. However, it cannot and should not be used as a means to reduce the loan principal so that borrowers choose not to give up their obligations. But some in Washington think this is exactly what we should do. Let us let banks reduce the amount of credit under duress. This is the "right thing." But who is it for? If you are paying a mortgage and think that the house is the first housing, the second tax right, and finally the future investment, you may be a bit angry and hear that if you cannot use your house as an ATM, then the government should Let you go out!
Federal Reserve Chairman Ben Bernanke warned this week that homeowners with little or no real estate in their homes are more likely to default and "walk away" from mortgage loans. The Democratic leaders in Congress soon discovered this and began to advocate stronger measures for implementation, mainly to the banks, who should reduce the number of borrowers who are not entitled to avoid foreclosure. It is not enough for Congress to bravely pass on borrowers who short-sell houses, and instead of raising bank losses to the borrowers' taxable events, we are only reducing their debt obligations! So if my understanding is correct, borrowers can not only buy houses without money, they can also have the closing costs paid by the sellers, and they can also miss a large amount of payments to banks. We should also tolerate a reduction in their loan principals. 10-15% of the property also fell. In this case, the borrower will basically hold the bank hostage. However, tell us through Washington that we will reduce foreclosures and the economy will benefit in some way. What about those bondholders who buy loans? Will this benefit them?
Regardless of the down payment or the purchase of a house, they faithfully pay the lenders and value their investment in the American dream. They can proudly call themselves homeowners. People who buy only for potential benefits are called speculators, or worse, gamblers. Can I ask my MP to make up for my loss in Las Vegas? If I give up the stock, can I receive compensation?
I can see it now, "Hello, Congressman, I was running terribly on the bad table. I was not told that my winning percentage was not very good, so it must be someone else's fault.
Orignal From: Big Mortgage Relief
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