Upside Down Mortgage

Obama Loan Modification Stimulus

Question: how does Obama's stimulus package help current home owners who have fallen behind on payments?

I have fallen 4 months behind on my mortgage and I am in the process of obtaining a loan modification but the bank is already moving forward with foreclosure procedures, how will President Obama's stimulus plan help me keep my house and return from the foreclosure process?

Answer: If you could not come up with a single payment in four months then any reduction of interest is a moot point as you cannot afford the home you are in. accept that and move on you are just trying to delay the inevitable

Obama Housing Stimulus Plan

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!