Struggling With Your Mortgage Payments? Why Obama's Plan Won't Work Or Help Homeowners

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Two great examples of failed government programs are Fha get and Hope For Homeownership. I have been in the Real Estate and Mortgage firm for practically ten years and I've watch the boom, the bust, the denial on Capitol Hill, the panic and fear, and I can sum it all up in one word - ignorance.

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President Obama (and to be fair, President Bush) nor their advisors are experts in housing. They aren't in-tune to the problems 1 in 10 American families are facing with their mortgage. The housing bust started in the 3rd quarter of 2005 and didn't hit main road until 2007 and all the while, politicians including Fed Chairman Bernanke were in perfect denial about the sub-prime mortgage problems by saying the problems are "contained and will not spread." Wow! That couldn't have been supplementary from the truth as we see the mess destroying everything in its path and everything President Obama does to slow it down just isn't working, in fact his actions are acting like a catalyst to worsen the conditions even further. For several years, we have sat back and watched the government do nothing until it was too late.

So I ask again, why would you have faith that his new housing plan will save you or other struggling American families? What are you basing that decision on?

His refinance plan only allows borrowers who are only upside-down in their home 5% with a 105% Loan-To-Value Cap. Meaning if you owe more than 5% of the homes current appraised value, you won't qualify. In many places, especially those areas that saw the highest appreciation are also seeing the highest depreciation and in some cases 30-50% of their home's value has been lost. Yet again, someone else schedule that sounds great and makes it look like they are helping, but will no ifs ands or buts only help very few, if any, citizen at all.

Let me share with you someone else detail - he's giving money to the very same banks that caused you to be in this mess in the first place with all the predatory lending that happened between 2003-2007. To be fair, President Bush gave these same lenders money in an attempt to loosen up lending guidelines and make loans to people. Did you know that since the 2008 Tarp funds were given, lending guidelines have no ifs ands or buts gotten tighter? In fact, these tighter guideline levels haven't been seen since 2002 and its expected to get even tighter through out the remainder of this year.

Obviously the government now has a vested interest in these financial institutions and both are working together to get the biggest bang for their buck. So do they no ifs ands or buts have Your best interest or Theirs?

Consider this - they have posted on their website that you should not pay to have somebody fight your lender for you that you should walk away. "Do Not Pay -Walk Away" is what their website says. Isn't everyone entitled to legal representation? Why would the government tell you to not pay for legal representation to fight for your home? Is it inherent its because the mortgage associates asked the government to state that because they know they could end up losing more if they were to negotiate with an experienced attorney that specialize in loss mitigation versus negotiating with the desperate homeowner who will do whatever to save their home?

Yes!! Think about it! If I'm a bank with a staff of attorneys and I'm suing you (which is basically what a foreclosure is) I'd hope and tell you not to get an attorney, too!!! It makes my job as a bank's attorney much easier and I don't have to give you as good of a deal because the negotiations won't be as strong.

Attorneys specializing in loan modifications know exactly how to box and present Your file to the lender, what and how to negotiate the best inherent deal that can be obtained, what the laws are for communication and most importantly, work and relate You and not your lender. Many loan modification attorneys have direct way to bank loss mitigators and can move much faster to get a loan modification than individuals trying to do it themselves. If you were working for the bank, who are you going to respond to first - the attorney that knows the laws or the individual homeowner begging to stay in their home.

The other added benefit of hiring a loan modification attorney other than just representation is that you have somebody working for you that isn't going to get emotional in the negotiations. This is a huge benefit to you the homeowner and goes a long way in negotiating.

So I ask again, Why would the government suggest you to not get legal representation and Why should we believe that someone else government schedule designed to help homeowners will not fail when none of them have worked yet???

Visit my website online http://www.cleanupmymortgage.com and explore our services. I work for an attorney-based loan modification firm and our success rate is nearly 100%. We will work to relate You, not the lender and our goals are simple: stop foreclosure, work with your lender to get your payments lowered to an affordable and comfortable level, wipe out past due fees and put you and this economy back on the road to recovery with a clean slate and having Americans begin the medical process and re-building wealth.

We are here to help. You do have options. You need legal representation.

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