Well, bend over
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- Dubble Trubble
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Well, bend over
Here are the "basics" of Obama's plan for homeowners. But guess who is getting the $ 1000 bonuses? BANKS Yep, the same crooks that got us into this have figured out how to get even more "bonus" money.
What a Mess (Sorry WAM, no pun intended )
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The program will share with the lender/investor the cost of reductions in monthly payments from 38% DTI to 31% DTI.
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Servicers that modify loans according to the guidelines will receive an up-front fee of $1,000 for each modification, plus “pay for success” fees on still-performing loans of $1,000 per year.
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Homeowners who make their payments on time are eligible for up to $1,000 of principal reduction payments each year for up to five years.
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The program will provide one-time bonus incentive payments of $1,500 to lender/investors and $500 to servicers for modifications made while a borrower is still current on mortgage payments.
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The program will include incentives for extinguishing second liens on loans modified under this program.
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No payments will be made under the program to the lender/investor, servicer, or borrower unless and until the servicer has first entered into the program agreements with Treasury’s financial agent.
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Similar incentives will be paid for Hope for Homeowner refinances.
Dubble
What a Mess (Sorry WAM, no pun intended )
•
The program will share with the lender/investor the cost of reductions in monthly payments from 38% DTI to 31% DTI.
•
Servicers that modify loans according to the guidelines will receive an up-front fee of $1,000 for each modification, plus “pay for success” fees on still-performing loans of $1,000 per year.
•
Homeowners who make their payments on time are eligible for up to $1,000 of principal reduction payments each year for up to five years.
•
The program will provide one-time bonus incentive payments of $1,500 to lender/investors and $500 to servicers for modifications made while a borrower is still current on mortgage payments.
•
The program will include incentives for extinguishing second liens on loans modified under this program.
•
No payments will be made under the program to the lender/investor, servicer, or borrower unless and until the servicer has first entered into the program agreements with Treasury’s financial agent.
•
Similar incentives will be paid for Hope for Homeowner refinances.
Dubble
The more I know about something, the more I know that I did not know as much as I thought I knew that I knew.
Re: Well, bend over
Wife and I were talking about this issue just this morning.... Bankers made money by contributing towards get'n us into this mess and now they're poised to make money again. I'm not sure just where all the pit falls are, but I don't believe that its possible to make money on both sides of a bad deal and not have something go wrong .... AGAIN!!...
"Good Judgement" comes from experience, ... and a lot of that..... results from "Bad Judgement".
Re: Well, bend over
Somebody.....break out he vaseline
- Reel Cowboy
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Re: Well, bend over
Do you think they'yy buy us a drink first or just right on down to bidness?Bow'd Up wrote:Somebody.....break out he vaseline
In the words of the great Doc Holliday, "I'll be your huckleberry"
Re: Well, bend over
No drink, no foreplayReel Cowboy wrote:Do you think they'yy buy us a drink first or just right on down to bidness?Bow'd Up wrote:Somebody.....break out he vaseline
Re: Well, bend over
Now thats funny Sube
Re: Well, bend over
HEY, he promised CHANGE he never said it would be for the better
“Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you are a mile away from them and you have their shoes.”
Re: Well, bend over
No Bush did?jsuber wrote:Ober-kle
- Dubble Trubble
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Re: Well, bend over
Tennessee wrote:
No Bush did?
You seem to forget who was in charge of the Senate and house the last few years ( Hint: Democrats)
You also forgot who pushed banks and savings institutions to loan money to "minorities" for housing whether they qualified or not, in the name of "Political correctness". ( Hint: Democrats)
Housing loans is what brought this whole thing down.
Now, even thought I worked and paid for my house, They want me to bail out those that can't afford their $300,000 homes on a 25,000 yearly salary?
Do not get me started.
Dubble
The more I know about something, the more I know that I did not know as much as I thought I knew that I knew.
Re: Well, bend over
I'm sure the people buying homes they couldn't afford were dragged kicking and screaming into the bank and forced at gun point to sign the dotted line. Democrats have been and always will be the problem.
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Re: Well, bend over
Tennessee wrote:No Bush did?jsuber wrote:Ober-kle
Libs are so friggin predictable. Bush....Bush....Bush....Cheney....Cheney....Cheney....blah blah blah In 4 years we'll still be hearing about what a great job Oberkle did despite Bush's "failed policies"
"Death and life are in the power of the tongue: and they that love it shall eat the fruit thereof." Proverbs 18:21
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Re: Well, bend over
Tennessee wrote: No Bush did?
“Before you criticize someone, you should walk a mile in their shoes. That way when you criticize them, you are a mile away from them and you have their shoes.”
Re: Well, bend over
wevans wrote:Tennessee wrote: No Bush did?