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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (82102)	10/25/2011 2:39:10 PM
From: Ilaine	Read Replies (1) \| Respond to of 220063

A lot of bankruptcy lawyers who market to foreclosures are worried that business will dry up under the new HARP plan. I doubt it. In order to qualify you need to be current on your mortgage, and never late in the last 6 months. That's not going to apply to someone facing foreclosure. I do have one loan mod client who may qualify. I need to check if her mortgage is Fannie or Freddie. I think it probably is, it's plain vanilla, but the interest rate is pretty low already. What she really wants is HAMP, knock it down to 2%, stretch it out over 40 years, due to hardship (hurt her back, cut back in hours at work). What we've found is that HAMP mods and HARP refis are just ridiculously hard. The lenders don't hire enough workers, they don't train them well, the applications are constantly getting "lost."

To: Snowshoe who wrote (82102)	10/26/2011 8:29:37 PM
From: TobagoJack	1 Recommendation Respond to of 220063

not true. the price of money is manipulated down, to keep the mortgage economy, essentially the main economy, above water. try true cost of money for 90 days and see what percentage of mortgage economy remain above water. imo it is an absolute imperative that team usa revive the housing industry any which way it can. charlie schumer is going to try to put usa residency on 50% everything-must-go sale should he push through the paper work, usa residency would cost usd 500k instead of 1m relative to hk at hkd 10m (usd 1.25m) freedom has a price, and does not get put on sale