“If they want help, then give us substantial kickbacks and payoffs like the bankers, or children like ACORN.”
Posted on 10/24/2009 3:29:15 AM PDT by TigerLikesRooster
Refinancing lifeline fails to reach most 'underwater' homeowners
Federal plan misses about 97 percent of eligible borrowers
By Renae Merle
Saturday, October 24, 2009
A seven-month-old government program to help homeowners with little or no equity refinance their mortgages has so far reached fewer than 3 percent of those targeted, with many struggling borrowers deciding that the benefits of a new loan aren't worth the closing costs.
This lackluster performance reflects the difficulty of helping the growing segment of "underwater" homeowners -- those who owe more than their home is worth.
The program is a key component of the Obama administration's efforts to stabilize the housing market and arrest the nation's growing foreclosure rate. But the initiative has received far less public attention than its companion, a loan modification program that pays lenders to lower the payments of delinquent borrowers who are in imminent danger of losing their homes.
(Excerpt) Read more at washingtonpost.com ...
Ping!
“If they want help, then give us substantial kickbacks and payoffs like the bankers, or children like ACORN.”
Stimulus money has gone to public projects (and signs), increase of local government.
Hope you all were working for them.
(Sad to say that even Kerry had more experience in business with his cookie business)
And by design! The more homelss people you have, the more ‘Rat voters you have. *SHRUG*
Thanks for the ping.
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