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Author Topic: Obama wants people to refinance their homes, and not those losing homes  (Read 1594 times)

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Offline Konssurvative1

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Obama wants people to refinance their homes, and not those losing homes
« on: April 09, 2009, 01:36:25 PM »
http://makinghomeaffordable.gov/refinance_eligibility.html

This link says that I have qualify for a potential refinance of my mortgage...This would be a good thing...I could use this to pay off my second and roll the two mortgages into one.  He just had a press conference and said he wants people to refinance their homes so it puts more money into their pockets...So he can then tax more of our income down the road????Me thinks me smell a RAT! :hammer:
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Offline DumbAss Tanker

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #1 on: April 10, 2009, 06:42:40 AM »
One of the last things in the world I want to do is jack up my debt level for cash in hand now.
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Offline NHSparky

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #2 on: April 10, 2009, 08:22:08 AM »
Does this include people upside down on their mortgages, Obummer?

Assclowns--simply amazing, really.
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Offline Wineslob

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #3 on: April 10, 2009, 12:06:32 PM »
Sounds like a boon for Title Companies........................and no one else.
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Offline debk

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #4 on: April 10, 2009, 01:52:34 PM »
Quote from: Wineslob on April 10, 2009, 12:06:32 PM
Sounds like a boon for Title Companies........................and no one else.

Also the mortgage companies....they don't refinance for free usually. The title companies don't make that much in a closing....usually less than $500, the rest goes to deed stamps, tax stamps, prepayment of property taxes and insurance, escrow deposits, and fees required by the lender.
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Offline Konssurvative1

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #5 on: April 11, 2009, 07:31:29 AM »
The only reason I would refinance is to rid myself of the lousy second mortgage that we used to put my wife through school and pay for braces and pay off car, and some other debt.  Right now it is about $615 per month...that is $615 that I could be saving or using to buy a new car with...And if Obama says I should be doing it, Then mortgage companines should be willing to lend...but I don't see that happening...I couldn't even get a best buy card last night to buy a new TV.  I don't have horrible credit...but it aint 900 either...last we had it checked it was about 650.  But They just aren't extending new credit right now.  A year ago, I qualified for $4000 to purchase a new pool with, and things have gotten better this year...I don't get it.  But if OBAMA says so...we should all follow suite.
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Offline debk

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #6 on: April 11, 2009, 05:22:41 PM »
With a 650 score you should be able to refinance. Check with Wells Fargo or Countrywide/s Full Spectrum.
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Just hand over the chocolate...back away slowly...far away....and you won't get hurt....

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Offline Konssurvative1

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #7 on: April 22, 2009, 09:02:05 AM »
Countrywide is now Bank of America...Just got my notice yesterday...Bank of America is now owned (essentually) by the federal government...so does that mean that the federal government now holds the title to my home? 
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Fighting to oust all congressional incumbents...after all aren't they the ones responsible for this whole mess.
Ronald Reagan is my conservative hero, Jesus Christ and the American GI are my personal hero's.  Neither has or will sacrifice more for me!

Offline debk

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #8 on: April 22, 2009, 03:49:58 PM »
Quote from: Konssurvative1 on April 22, 2009, 09:02:05 AM
Countrywide is now Bank of America...Just got my notice yesterday...Bank of America is now owned (essentually) by the federal government...so does that mean that the federal government now holds the title to my home? 


Bank of America bought Countrywide last summer early fall.

However, Countrywide is still doing home loans.....at least they are still advertising that they are.

I would however, contact Countrywide and/or B of A and find out exactly where the title to your house is....also to make sure that your payments are going to the correct address, and if you escrow your taxes and homeowner's insurance, ask for a copy of your escrow account and make sure the insurance company and your County and/or City Property Tax offices have the correct address to mail the bills to be paid on time.
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Just hand over the chocolate...back away slowly...far away....and you won't get hurt....

Save the Earth... it's the only planet with chocolate.

"My therapist told me the way to achieve true inner peace is to finish what I start. So far I've finished two bags of M&M's and a chocolate cake. I feel better already." – Dave Barry

A balanced diet is chocolate in both hands.

Offline rich_t

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Re: Obama wants people to refinance their homes, and not those losing homes
« Reply #9 on: April 22, 2009, 05:36:52 PM »
I know that BofA is raising their CC interest rates.  I got the notice last week.

We have never been late on a payment and usually pay the balance in full each month.
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