Did Obama Really Make Your Home Affordable?
Since the release of the new guidelines for Refinancing and Loan Modifications, have you attempted to do either one? Was it successful or did you run into a heap of delays and problems? Did you get a lower payment? Did you avoid foreclosure?
Did you attempt to refinance under the expanded guidelines for those with little equity? How did that go?
We are interested in your experiences for preparation of a report to MakingHomeAffordable.gov. Please enter your feedback below and pass on to others you know who can comment on their experiences.
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{ 8 comments… read them below or add one }
it took us 6.5 months to get citimortgage to do it, but finally we got the modification. we went back & forth with our debts and income before the new payment made any sense. took them so long to figure out our income and expenses. we’re just regular 9 to 5 working people with a regular paycheck. we don’t know why it was so hard for them to figure out.
No, no and no. How is it that Obama passes a law that big companies can then decide if/when/who/why/what they want to do. They can lose all the paperwork and lie about everything, have stupid employees who don’t know what’s going on and then come STEAL OUR HOME. Your law is crap Obama. I have already written to the president. But please send my comment again. This was all political nonsense.
I got nothing acomplished. Not a change in my loan or a refinance. My sister had very similar case as mine but she got her loan modified. Her mortgage company was different from mine. Maybe that’s part of the key. I have given up now. Had to file bankruptcy in June. I used to be angry. But realize it’s the nature of the beast and the country we live in. At least bankruptcy was available and I have a home. I have nowhere else to go. No family.
wife and I both lost our jobs after workiing in same place for 15 years. have not gotten new positions yet. wells fargo said all the programs require we have to show income to pay debts even after they would lower the mortgage payment. we will try again after i get new job.
I am not clear what Making Home Affordable is. I call it a joke. If the Oblama administration intended for this to have a true affect, they would have made it like taxes. Lenders must do it or else. As it turns out, this was nothing but words on paper for most people. I work with a nonprofit trying to help people stuck with these mortgages. Out of every 10 people that should get a modification approved, only 3 get one done in time to help them. I take this burden home with me every day that I can’t help more people. I bet Mr. Obama sleeps well at night.
As my father says all the time, it was nothing but political shenanigans. Obama never talks about this program any more.
worked for me. rate and payment reduced for 5 years.
I paid a company to try it for me and got nothing from it. They stole my money. Niw I can’t reach them. Not sure if these companies are part of Obama’s plan. That’s where confusion lies. Someone else told me only the banks are tied to Obama’s plan but the compny I worked with implied working with them was the same as working with my bank. Don’t think that was true. I am trying again with my bank now and been waiting for almost 3 months. Mortgage now behind 7 months. With husband out of work, if the modification is denied, we will lose our home. No way to catch up. We’re praying about it.