Obama Refinance Plan – Mortgage Help and Relief from Making Home Affordable
Posted on | March 9, 2010 | 1 Comment
The Obama refinance plan was created to offer mortgage help and relief for those who are greatly struggling to make their monthly mortgage payment. The Making Home Affordable plan was designed to allow you to lower your overall monthly mortgage payments through loan modification or refinancing.
It is very common in the United States today for homeowners to struggle to make their monthly mortgage payments. Unfortunately, many of these homeowners have seen their incomes drop. With this lower income it is very hard to make monthly mortgage payments.
Pres. Obama and his staff realized this so they created the Making Home Affordable plan which offers mortgage help and relief. If you have equity in your home and a decent credit score then there is a very good possibility that you could refinance to a lower mortgage interest rate today.
If you do not have equity in your home and your credit score is pour than there’s a very good opportunity to get a home loan modification which can help you to lower your overall monthly mortgage payment. It is important to note that home loan modification takes a great amount of hard work through submitting documents.
Author: Mike Garner
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One Response to “Obama Refinance Plan – Mortgage Help and Relief from Making Home Affordable”
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March 9th, 2010 @ 1:32 pm
(Homeowner Affordability)I was laid off 11/13/09.I have try to work with my loan company Litton Loan Servicing Tel#(800) 999-8501 .1st request was put in 11/09.
12/22/09 Litton sent a letter I was under review.1/22/10 Litton sent a letter stated I was getting $6012.07 a month on unemployment. Wish I was. We receive 3220.00 a month after taxes. 1/25/2010 Litton puts me back under review.2/5/2010 Litton sent a letter that they were unable to offer me a (HAMP) modification no reason. Call Litton was told I should get rid of my 2 cars payments and I would not need a loan modification. On 2/18/2010 I call Homeowners HOPE Hot-line .I was told by Green Path Debt solutions I was eligible for the (HAMP)modification Green Path and I call Litton and when back over the budget summary with the income of $3220.00 per month for the 3rd time and stated that I was within 31% of my income. On 2/23/2010 Litton sent a letter I was under review for the 3rd time. On 3/4/2010 I received a letter from Litton telling me my monthly income was $3672.07 and was not eligible. When I called Litton and told them they had made an error on my monthly income that it was $3220.00 not $3672.07 I was told to stop putting for a loan modification. I need HELP ASAP from someone! Litton Loan Servicing will not work with its customers.