Quote:
Originally Posted by yournamehere
Obama's newer homeowner's assistance package is a joke. I can't believe he had the nerve to unveil the plan in Phoenix - because it is one of the worst-affected areas - yet it only helps homeowners whose currently appraised value is within 5% of their loan balance.
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That is only the refinancing part of the package. There is also a loan modification process available to people whose mortgages (principle, interest, taxes, insurance, and association fees) are greater than 31% of their gross salary.
Making Home Affordable - Modification Evaluator