Upside Down Mortgage

Archive for August, 2007

Loan Modification Wells Fargo Bank

The Obama federal loan modification program is expected to benefit four to five million homeowners in America. Because foreclosure benefits neither the mortgage lender nor the homeowner, most lenders are eager to participate in this program, but they are not required to do so. Mortgage lenders agreeing to participate in Obama's federal loan modification program must agree to Treasure Department guidelines and are given incentives to work with financially strapped homeowners to handle modifying loan requests.

MHA, or Making Homes Affordable, offers this list of current lenders taking part in the Obama federal loan modification program (in alphabetical order):

1. Bank of America.

2. Carrington Mortgage Services.

3. Chase.

4. CitiMortgage.

5. Countrywide.

6. GMAC.

7. Green Tree Servicing.

8. Home Loan Services, Inc.

9. Ocwen Financial Corp.

10. Saxon Mortgage Services.

11. Select Portfolio Servicing.

12. Wells Fargo Bank.

13. Wilshire Credit Corp.

More lenders are agreeing to participate in the federal loan modification program, so continue to check back for additions to the list. Ask your mortgage lender or bank if they are participating if you don't see them listed above.

Even if you've previously been turned down by your individual lender, you may qualify and be eligible now under this new modify loan program. Completing the paperwork properly and adhering to the guidelines as set out by the government and the participation lender is the key to your modification approval. Don't meet with your lender until you've gathered the appropriate documentation demonstrating your financial situation and filled out the application in detail, carefully checking for mistakes before you submit the information.

Preparing our paperwork in advance will improve your chances for gaining assistance under the new Obama federal loan modification plan.
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For more information about Obamas government loan modification program, visit the #1 loans modification resource on the net: http://HomeLoanModifications101.com

Article Source: ArticlesBase.com - Obama's Federal Loan Modification Plan - List of Participating Lenders

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Subprime Canada

Question: If Barack Obama delivers on 5% of his pledges, will that be better than what Bush has offered as president?

Gas prices have went from like $1.60 to $4.00, and he made his fortune in the oil industry. Economy is in a recession, We are in a war in which we don't have a strategic plan. Soldiers dying left and right. Subprime Mortgage Crisis. NO Child Left Behind, but the students are doing worse than ever. Weakening dollar. Our dollar is worth less than Canada's now. What has Bush accomplished? In what way has he left the country better than when he received it? I bet some one will say racist, black, or something to do with Obama's religion, or racism, even though he's mixed.

Answer: I dont like Obama for many reasons. One NOT being because he is half black. However, if he does win I agree, I dont see how anyone could not be at least a little better then Bush.

Understanding the Global Financial Meltdown - "What's Going On" - Still Think It's About Subprime?

Subprime Magazine

Pittsburgh is the second largest city in Pennsylvania, with a population of over 310,000. Its downtown area is a great place for professionals. Forbes magazine ranked it as the 13th best city for young workers to live. Pittsburgh ranks 25th in the entire country for jobs within the city limits. While it has been known in the past as a manufacturing center for steel, today Pittsburgh has broadened its horizons. It is now heavily involved in healthcare, technology, banking, and education. While the city has faced struggles as the influence of the steel industry declined in the 1970s, and many manufacturing jobs moved overseas, Pittsburgh today is economically strong. Even with the subprime mortgage debacle, Pittsburgh's housing market has remained relatively stable. The city has even seen job growth during the recession. Pittsburgh has a long and storied history, starting its existence as a settlement for European traders in the 1700s. Later, the French and the British would fight over the area, leading to the French and Indian War. In a treaty signed in 1768, William Penn's descendants bought the land from the Iroquois tribes that owned it. Both Virginia and Pennsylvania laid claim to the site until 1780, when they agreed to redraw the Mason-Dixon line so that it would lie within Pennsylvania. After the American Revolution, the city of Pittsburgh kept on growing. One of Pittsburgh's first industries was to build boats for those who wanted to go up the Ohio River. The town's boundaries were officially drawn in 1784. After the short "Whiskey Rebellion" of 1794, a charter officially named the city Pittsburgh. The War of 1812 encouraged American manufacturing, as supplies from Britain were cut off completely. The city saw an influx of Welsh steelworkers in the 1830s, and by the 1860s Pittsburgh's factories were using over 20,000,000 bushels of coal a year. The steel trade was in full swing by 1875, and U.S. Steel was formed in 1901. By 1911, Pittsburgh was making almost half of all steel in the United States. The city made 95 million tons of steel during World War II, but after the war Pittsburgh started a clean-air and civic improvement program, "the Renaissance", followed in the 1970s by "the second Renaissance", which was more centered on neighborhood improvement and cultural development. The city's industrial base continued to expand throughout the 1960s, but imploded in the 1970s with massive steel mill closures and worker layoffs. Pittsburgh may have gotten its start as an outpost for European traders, and later a steel town, but the city has definitely come into the 21st century. Pittsburgh now boasts a wide industry base, spanning technology (like robotics), health care, tourism, nuclear engineering, finance, and service-based jobs. Its two largest employers, with a combined 37,000 employees, are the University of Pittsburgh, and the university's medical center. Pittsburgh's central location, its bustling downtown area, its wide variety of employment opportunities, and its great people ensure that the city will enjoy continued prosperity for many years to come. For more information on Pittsburgh, Pennsylvania visit
http://pittsburghmicroblog.com
and
http://pennsylvaniamicroblog.com
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Article Source: ArticlesBase.com - The Steel City

The Subprime Swindle: Economic War on Black America