Karl
Highlands Ranch,#2Consumer Comment
Wed, May 04, 2011
on the web, it might answer your question about why the government isn't helping you.
You see, it appears that the government of the United States of America is being controlled by a cartel of bankers, and these same bankers are at the root of most of the foreclosures in the USA.
It also appears that these bankers have structured a deal where they will PROFIT on every foreclosure in the USA. Rather than helping people like you, the bankers seem to be only interested in profits! It's that simple.
Make sure to 'Google' this- ELIZABETH WARREN GRILLS GEITHNER, CRITICIZES TREASURY'S FORECLOSURE PLAN, and watch that interview on the web. It's just more proof that the bankers are in control of the U.S. Government, wouldn't you agree?
Good luck to you!
P.S. Don't forget to 'Google' this- 9WANTS TO KNOW STARTS WEEK-LONG PUSH TO HELP HOMEOWNERS, and watch that video and read the article on the web. You might want to contact ALL of your Local T.V. Stations and get in touch with their Investigative Reporters. Maybe someone will help you and do what 9NEWS did, right
Robert
Irvine,#3Consumer Comment
Wed, May 04, 2011
Here is the kicker, my home which was 900sf I started a addition a major addition is now over 3000sf.
- Your "problem" comes down to one thing GREED. Yes some banks, mortgage brokers, real estate agents got greedy. However, they were not the only ones. YOU were as well, and need to take responsibility for YOUR actions. It is YOUR responsibility to read and understand what you are signing. You should have been able to look at the "numbers" to realize you couldn't afford it in the long run.
I don't think you should expect much sympathy talking about your 3000 sq. ft. house with being able to afford a payment around $3,500 a month. There are many people who would have been happy with a 900 sq. ft. house. Where if you were happy with that, then you would not be in this situation now.
I feel my home is worth way more than the bank if you look at the addition I have done and the view I have of course they want my home but that is not fair.
- It doesn't matter what YOU feel the house is worth. You could think the house is worth 1 Million Dollars, but if they can only sell it for $400,000 then that is what you can get. If your loan is close to 700K, then they loose almost 300K. But if you really think it is worth more than the bank says then sell it on your own and downsize to a more affordable house.
I just want my loan modified to a fixed 30 year loan which if it was done today at the current rate 694k at 30 year fixed at 4.3% my payments would be $3434.41 a month which I can afford.
- One factor in Interest Rates is your credit score. First off rates do change daily, but they are hovering around 4.7% not 4.3% right now that alone is going to increase your payment. If your credit score is under 720 you can forget the lowest rates. Depending on your score you could be looking at the 5's or even low 6's. There are people who pay their mortage and don't live beyond their means. If they had similar scores they wouldn't get a lower rate. So if they can't get a lower rate why should you be treated any differently?
One other factor for approval is your income. It doesn't matter what you THINK you can afford it matters what the bank guidelines are. Just as a simple number your mortagage payment needs to be no more than about 30%(give or take a few percentage points depending on the program). So to qualify you need to have a GROSS monthly income of a little over 11.5K(and that is at that payment), with the higher interest rate you are probably looking at closer to 12-13K a month. Again if everyone else has to follow these guidelines why should you be treated any differently?