Comments on: President Obama’s Foreclosure Plan – The Basics http://www.truthinforeclosure.com/president-obamas-foreclosure-plan-the-basics Sun, 22 Aug 2010 22:39:10 +0000 http://wordpress.org/?v= hourly 1 By: Todd http://www.truthinforeclosure.com/president-obamas-foreclosure-plan-the-basics#comment-207 Todd Wed, 25 Feb 2009 02:53:53 +0000 http://www.truthinforeclosure.com/?p=1095#comment-207 Thanks for asking! You can ask your lender if your loan is a Fannie Mae or Freddie Mac loan on or after March 4. If it is (or Homecomings decides they want to participate), you may be able to get your loan modified. It will depend on whether you have sufficient income to make the payments and whether or not you have a second mortgage that's willing to cooperate. We'll dicuss other gotchas and things to be aware of in our next post so please sign up for our site updates so you don't miss it. Thanks for asking!

You can ask your lender if your loan is a Fannie Mae or Freddie Mac loan on or after March 4. If it is (or Homecomings decides they want to participate), you may be able to get your loan modified.

It will depend on whether you have sufficient income to make the payments and whether or not you have a second mortgage that’s willing to cooperate.

We’ll dicuss other gotchas and things to be aware of in our next post so please sign up for our site updates so you don’t miss it.

]]> By: Ebbone http://www.truthinforeclosure.com/president-obamas-foreclosure-plan-the-basics#comment-206 Ebbone Wed, 25 Feb 2009 02:34:43 +0000 http://www.truthinforeclosure.com/?p=1095#comment-206 If my current mortgage is 490,000 but my home is now valued under 400,000 can I still participate in the program? My current mortgage is with Homecomings. I bought the house in December 2005 for 617,000 and put 20% down and have not missed a payment. If my current mortgage is 490,000 but my home is now valued under 400,000 can I still participate in the program? My current mortgage is with Homecomings. I bought the house in December 2005 for 617,000 and put 20% down and have not missed a payment.

]]> By: President Obama’s Foreclosure Plan - The Basics | Foreclosure Industry http://www.truthinforeclosure.com/president-obamas-foreclosure-plan-the-basics#comment-204 President Obama’s Foreclosure Plan - The Basics | Foreclosure Industry Tue, 24 Feb 2009 17:29:53 +0000 http://www.truthinforeclosure.com/?p=1095#comment-204 [...] good friend Todd over at truthinforeclosure.com has written a nice blog post on how the new Obama housing plan will affect homeowners, particularly those in [...] [...] good friend Todd over at truthinforeclosure.com has written a nice blog post on how the new Obama housing plan will affect homeowners, particularly those in [...]

]]>