Asked by Bob Phillips, Rancho Santa Margarita, CA • Thu Feb 19, 2009
Yesterday, President Obama announced his new "Homeowner Affordability and Stability" program, designed to ease the Nation's foreclosure crisis. If you are a homeowner with a problem mortgage, you should take a look at the outline of the program on the "White House Blog", or ( I'm not sure if this will cut&paste.) this is a copy of the Q & A, from my blog: http://southorangecounty.wordpress.com/2009/02/18/the-new-ho
As you look at the proposed program ( it isn't set to be up and running until March 4th.) one item stands out - you should NOT have to pay to participate in this program - the lenders who cooperate will be receiving compensation from the Government, as part of the program.
There seems to be a gigantic number of scam artists out there, telling you they can "modify" your mortgage - for a hefty fee - paid in advance. Interestingly, some of these people are the same guys who were out pushing the troublesome lousy, liar loans.
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