Posted on: 05th Mar, 2009 05:34 am
'making home affordable is a loan modification and refinance program released yesterday by obama team. it is applicable to selected conditions being met such as living in the same property, person signing a hardship etc. what are the estimations on the issue? how much it is helpful to people at large?
the rollout of this isn't instantaneous, though the publicity might make it look that way. lenders, bankers, investors, etc. have to get a grip on just how it impacts each of them so that they can specify how they'll handle all this new business. plans are still being formulated.
There are lots of changes coming over the next couple of months. The jury is still out as to whether these changes will actually help the masses or a select few.
I was also shocked to hear of few companies have hooked up against bankrupcy declaration and consolidation process to observe the effect of this sum. But in reaction, a few experts have also added that it is being tricked to suppress the process to asome extent.
What our my chances of getting back home after it was sold during a forcloures sell while I was in modification loan
Marlena/Califorina
Marlena/Califorina
Hi marlena,
It is quite surprising that your property was foreclosed when your loan was already modified. In a loan modification, the lender gives you a new repayment plan to pay off the debts.
Did you default your payments even after the modification of the loan? If not, then I would suggest you to contact an attorney and discuss the whole issue with him. The attorney will look into the details and let you know whether you can sue the lender or not.
It is quite surprising that your property was foreclosed when your loan was already modified. In a loan modification, the lender gives you a new repayment plan to pay off the debts.
Did you default your payments even after the modification of the loan? If not, then I would suggest you to contact an attorney and discuss the whole issue with him. The attorney will look into the details and let you know whether you can sue the lender or not.