Nearly 50 percent leave mortgage-aid program

[Arraya]

It is very difficult to “sell” indentured servitude, especially servitude derived from self-chosen moral shackles. Virtue is seldom a sufficient reward to being poor. I don’t care who you are.

If they forced the banks to run their normal course and process the 8 million foreclosures in a normal time frame it would have bankrupt the entire banking system. Lower prices begets more strategic defaults. Imagine if there were 40 K more homes on the SD market today. It would create more than 40K foreclosures. Of course, this was done in conjunction with government taking over the entire mortgage market. If these things were not done 90% of the banks would have gone bankrupt and RE prices would have been a magnitude lower. God knows where unemployment would be, but you can safely assume it would be quite a bit higher.

Whether you like it or not, the banks have no other choice but to negotiate because, like the FBs, are fighting for survival.

[sdrealtor]

It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.

[sdrealtor]

It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.

[sdrealtor]

It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.

[sdrealtor]

It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.

[sdrealtor]

It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.

[bearishgurl]

[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]

For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.

And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.

If I had a nickel for every . . . nevermind.

Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.

See: http://piggington.com/upper_mid_to_lower_high_end_market_in_ncc?page=3

[bearishgurl]

[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]

For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.

And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.

If I had a nickel for every . . . nevermind.

Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.

See: http://piggington.com/upper_mid_to_lower_high_end_market_in_ncc?page=3

[bearishgurl]

[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]

For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.

And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.

If I had a nickel for every . . . nevermind.

Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.

See: http://piggington.com/upper_mid_to_lower_high_end_market_in_ncc?page=3

[bearishgurl]

[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]

For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.

And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.

If I had a nickel for every . . . nevermind.

Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.

See: http://piggington.com/upper_mid_to_lower_high_end_market_in_ncc?page=3

[bearishgurl]

[quote=sdrealtor]It amazes me that someone who has no recent firsthand experience on loan modifications thinks she knows why this is happening and further beleives it is borrowers dropping out. That couldnt be more wrong. The fall outs are not borrowers dropping out of the program but rather borrowers not qualifiying for a permanent loan modification. NO matter how small the relief that a person is granted why would someone not agree to accept a lower interest rate and lowered payments if they were offered to them. Its free money to them! There may be a few reasons not to but the vast majority of these are lender denials for a modification. Someone needs to take her “real estate expert” badge off until she actually is participating in the action to actually know what is going on.[/quote]

For whatever reason, sdr, you seem extremely arrogant here whenever you disagree with another pigg’s opinion. You really don’t know anything about me at all, including the fact that I have been assisting two borrowers with their mod and now deed-in-lieu paperwork within the last few months. Neither is currently employed and one has already been rejected for a mod. It’s not “free money” to any borrower who is so underwater that they will NEVER be able to return to a positive equity position in their lifetimes. Not every borrower wants to apply for a mod or even can.

And you think “you” are a RE expert?? Why don’t you go back to your office in gridlocked “Nirvana” and figure out (1)how you are going to stop living in your “charmed” past; and (2)figure out how you will stop wasting your time chasing after and placing buyer bids on overpriced REO McMansions only to later learn your buyer came in 16th . . . or 17th :={.

If I had a nickel for every . . . nevermind.

Every Pigg has a “heartwarming” growing-up story to tell that rivals yours, including myself, replete with ancestors who “lost everything” and parents who “sacrificed for their children” . . . LOL.

See: http://piggington.com/upper_mid_to_lower_high_end_market_in_ncc?page=3

[sdrealtor]

BG
Sorry I was in a particularly bad mood this weekend and took it out on you and yopu have my apologies. I just popped onlione and my first order of business was to change the post I made but since you repleid I dont think I can.

I honestly feel for you. Every post you make has such a strong negativity to it that I beleive you have not had it easy in life. Not that I have lived a charmed life but you seem particularly jaded by your experiences. I hope you find peace in your life sooner than later.

To address your points, unemployed dont qualify for loan mods that i have ever seen. The modification is based upon a specific formula that considers income. If you have none then you wil be denied. Intestingly, both of your people did not refuse to accept a loan mod and the one that has been resolved was denied.

I understand well that not every borrower wants to or can apply for a mod. Those who get them are getting “free money” in my mind as it betters their situation. There is no question that many are on life support and cannot be saved but getting one is still being thrown a life preserver no matter how small or ineffective.

I do not claim to be an “expert” at anything and just share my experience. As someone in the legal profession you know why I do not hold myself out as an expert. The minute I say I’m an expert I invite liability that I want no part of. I share true stories from the streets in hopes that people out there listening can learn from them. I get requests via private messages all the time and sometimes offers of compensation which I turn down. I get some of my greatest pleasures from helping and though many my not appreciate my online style there is always a method to my madness. Neither my past nor present is charmed outside of the fact that I have and always will live my life on my own terms.

As for the heartwarming stories from you and other piggs, I’d love to her more of those. Life is too short and too sweet to spend one’s life bathed in complete negativity.

I wish all the best for you and will work on being nicer to you on this forum,

sdr

[sdrealtor]

BG
Sorry I was in a particularly bad mood this weekend and took it out on you and yopu have my apologies. I just popped onlione and my first order of business was to change the post I made but since you repleid I dont think I can.

I honestly feel for you. Every post you make has such a strong negativity to it that I beleive you have not had it easy in life. Not that I have lived a charmed life but you seem particularly jaded by your experiences. I hope you find peace in your life sooner than later.

To address your points, unemployed dont qualify for loan mods that i have ever seen. The modification is based upon a specific formula that considers income. If you have none then you wil be denied. Intestingly, both of your people did not refuse to accept a loan mod and the one that has been resolved was denied.

I understand well that not every borrower wants to or can apply for a mod. Those who get them are getting “free money” in my mind as it betters their situation. There is no question that many are on life support and cannot be saved but getting one is still being thrown a life preserver no matter how small or ineffective.

I do not claim to be an “expert” at anything and just share my experience. As someone in the legal profession you know why I do not hold myself out as an expert. The minute I say I’m an expert I invite liability that I want no part of. I share true stories from the streets in hopes that people out there listening can learn from them. I get requests via private messages all the time and sometimes offers of compensation which I turn down. I get some of my greatest pleasures from helping and though many my not appreciate my online style there is always a method to my madness. Neither my past nor present is charmed outside of the fact that I have and always will live my life on my own terms.

As for the heartwarming stories from you and other piggs, I’d love to her more of those. Life is too short and too sweet to spend one’s life bathed in complete negativity.

I wish all the best for you and will work on being nicer to you on this forum,

sdr

[sdrealtor]

BG
Sorry I was in a particularly bad mood this weekend and took it out on you and yopu have my apologies. I just popped onlione and my first order of business was to change the post I made but since you repleid I dont think I can.

I honestly feel for you. Every post you make has such a strong negativity to it that I beleive you have not had it easy in life. Not that I have lived a charmed life but you seem particularly jaded by your experiences. I hope you find peace in your life sooner than later.

To address your points, unemployed dont qualify for loan mods that i have ever seen. The modification is based upon a specific formula that considers income. If you have none then you wil be denied. Intestingly, both of your people did not refuse to accept a loan mod and the one that has been resolved was denied.

I understand well that not every borrower wants to or can apply for a mod. Those who get them are getting “free money” in my mind as it betters their situation. There is no question that many are on life support and cannot be saved but getting one is still being thrown a life preserver no matter how small or ineffective.

I do not claim to be an “expert” at anything and just share my experience. As someone in the legal profession you know why I do not hold myself out as an expert. The minute I say I’m an expert I invite liability that I want no part of. I share true stories from the streets in hopes that people out there listening can learn from them. I get requests via private messages all the time and sometimes offers of compensation which I turn down. I get some of my greatest pleasures from helping and though many my not appreciate my online style there is always a method to my madness. Neither my past nor present is charmed outside of the fact that I have and always will live my life on my own terms.

As for the heartwarming stories from you and other piggs, I’d love to her more of those. Life is too short and too sweet to spend one’s life bathed in complete negativity.

I wish all the best for you and will work on being nicer to you on this forum,

sdr

[sdrealtor]

BG
Sorry I was in a particularly bad mood this weekend and took it out on you and yopu have my apologies. I just popped onlione and my first order of business was to change the post I made but since you repleid I dont think I can.

I honestly feel for you. Every post you make has such a strong negativity to it that I beleive you have not had it easy in life. Not that I have lived a charmed life but you seem particularly jaded by your experiences. I hope you find peace in your life sooner than later.

To address your points, unemployed dont qualify for loan mods that i have ever seen. The modification is based upon a specific formula that considers income. If you have none then you wil be denied. Intestingly, both of your people did not refuse to accept a loan mod and the one that has been resolved was denied.

I understand well that not every borrower wants to or can apply for a mod. Those who get them are getting “free money” in my mind as it betters their situation. There is no question that many are on life support and cannot be saved but getting one is still being thrown a life preserver no matter how small or ineffective.

I do not claim to be an “expert” at anything and just share my experience. As someone in the legal profession you know why I do not hold myself out as an expert. The minute I say I’m an expert I invite liability that I want no part of. I share true stories from the streets in hopes that people out there listening can learn from them. I get requests via private messages all the time and sometimes offers of compensation which I turn down. I get some of my greatest pleasures from helping and though many my not appreciate my online style there is always a method to my madness. Neither my past nor present is charmed outside of the fact that I have and always will live my life on my own terms.

As for the heartwarming stories from you and other piggs, I’d love to her more of those. Life is too short and too sweet to spend one’s life bathed in complete negativity.

I wish all the best for you and will work on being nicer to you on this forum,

sdr

[Author]

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