[rnen]

Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is intended to reach millions of responsible homeowners who are struggling to afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hard-working families have seen their mortgage payments rise to 40 or even 50 percent of their monthly income – particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes – providing families with security and neighborhoods with stability.

A Shared Effort to Reduce Monthly Payments: For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower’s monthly mortgage payment is no more than 38 percent of his or her income. Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five years, after which it
could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

[rnen]

Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is intended to reach millions of responsible homeowners who are struggling to afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hard-working families have seen their mortgage payments rise to 40 or even 50 percent of their monthly income – particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes – providing families with security and neighborhoods with stability.

A Shared Effort to Reduce Monthly Payments: For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower’s monthly mortgage payment is no more than 38 percent of his or her income. Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five years, after which it
could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

[rnen]

Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is intended to reach millions of responsible homeowners who are struggling to afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hard-working families have seen their mortgage payments rise to 40 or even 50 percent of their monthly income – particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes – providing families with security and neighborhoods with stability.

A Shared Effort to Reduce Monthly Payments: For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower’s monthly mortgage payment is no more than 38 percent of his or her income. Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five years, after which it
could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

[rnen]

Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is intended to reach millions of responsible homeowners who are struggling to afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hard-working families have seen their mortgage payments rise to 40 or even 50 percent of their monthly income – particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes – providing families with security and neighborhoods with stability.

A Shared Effort to Reduce Monthly Payments: For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower’s monthly mortgage payment is no more than 38 percent of his or her income. Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five years, after which it
could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

[rnen]

Helping Hard-Pressed Homeowners Stay in their Homes: This initiative is intended to reach millions of responsible homeowners who are struggling to afford their mortgage payments because of the current recession, yet cannot sell their homes because prices have fallen so significantly. Millions of hard-working families have seen their mortgage payments rise to 40 or even 50 percent of their monthly income – particularly those who received subprime and exotic loans with exploding terms and hidden fees. The Homeowner Stability Initiative helps those who commit to make reasonable monthly mortgage payments to stay in their homes – providing families with security and neighborhoods with stability.

A Shared Effort to Reduce Monthly Payments: For a sample household with payments adding up to 43 percent of his monthly income, the lender would first be responsible for bringing down interest rates so that the borrower’s monthly mortgage payment is no more than 38 percent of his or her income. Next, the initiative would match further reductions in interest payments dollar-for-dollar with the lender to bring that ratio down to 31 percent. If that borrower had a $220,000 mortgage, that could mean a reduction in monthly payments by over $400. That lower interest rate must be kept in place for five years, after which it
could gradually be stepped up to the conforming loan rate in place at the time of the modification. Lenders will also be able to bring down monthly payments by reducing the principal owed on the mortgage, with Treasury sharing in the costs.
“Pay for Success” Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive “pay for success” fees – awarded monthly as long as the borrower stays current on the loan – of up to $1,000 each year for three years.

[rnen]

[quote=Scarlet][quote=rnen]

I have owned nissan pick ups in the past and zero problems.

IMHO and experience GMC and their pampered union workers turn out crap. I must be the exception to the rule.[/quote]

I don’t know but I do know you are the exception when it comes to giving Nissan props for their POS

http://www.consumeraffairs.com/automotive/nissan_titan.html

Check out the muffler fell off post LOL!

Look I know I’m gonna get piled on for taking the side of the American auto maker, that a no-brainer for no-brainers.

Corporate America does not want us building the products we buy. They surely do not want us demanding that the products we purchase be built in the US by US workers. They want to control labor and labor costs of everything we are allowed to purchase. They are smart, and they are succeeding. It won’t be long now before their plan will be complete. You haters will usher that along with the torrent of anti-American posts that always follow anybody trying to say something good about US cars.

So tell yourself whatever makes you feel better. Or you could actually look at some reports on the quality of US cars??? Nah, that might confuse your preconcieved and pre-programed thought patterns.[/quote]

Not telling myself anything or buying into anything, just going from experience. Yours was different from mine, good for you. Still will not buy another gmc truck, possibly a Ford as I have had success with them in the past.

Look, the qaulity may have improved recently but a lot of folks, me included, bought worthless piles of junk from GM, Ford and Dodge from the 70’s through to the early 2000’s. Wonder where some of the programming came from???? Could it be 30 yrs of crap??? Ya, no excuse for those preconcieved and pre-programmed thought patterns. Maybe I created the problems because I was programmed to! 😉

The American companies have to win back trust and that will take time, they brought this on themselves.

[rnen]

[quote=Scarlet][quote=rnen]

I have owned nissan pick ups in the past and zero problems.

IMHO and experience GMC and their pampered union workers turn out crap. I must be the exception to the rule.[/quote]

I don’t know but I do know you are the exception when it comes to giving Nissan props for their POS

http://www.consumeraffairs.com/automotive/nissan_titan.html

Check out the muffler fell off post LOL!

Look I know I’m gonna get piled on for taking the side of the American auto maker, that a no-brainer for no-brainers.

Corporate America does not want us building the products we buy. They surely do not want us demanding that the products we purchase be built in the US by US workers. They want to control labor and labor costs of everything we are allowed to purchase. They are smart, and they are succeeding. It won’t be long now before their plan will be complete. You haters will usher that along with the torrent of anti-American posts that always follow anybody trying to say something good about US cars.

So tell yourself whatever makes you feel better. Or you could actually look at some reports on the quality of US cars??? Nah, that might confuse your preconcieved and pre-programed thought patterns.[/quote]

Not telling myself anything or buying into anything, just going from experience. Yours was different from mine, good for you. Still will not buy another gmc truck, possibly a Ford as I have had success with them in the past.

Look, the qaulity may have improved recently but a lot of folks, me included, bought worthless piles of junk from GM, Ford and Dodge from the 70’s through to the early 2000’s. Wonder where some of the programming came from???? Could it be 30 yrs of crap??? Ya, no excuse for those preconcieved and pre-programmed thought patterns. Maybe I created the problems because I was programmed to! 😉

The American companies have to win back trust and that will take time, they brought this on themselves.

[rnen]

[quote=Scarlet][quote=rnen]

I have owned nissan pick ups in the past and zero problems.

IMHO and experience GMC and their pampered union workers turn out crap. I must be the exception to the rule.[/quote]

I don’t know but I do know you are the exception when it comes to giving Nissan props for their POS

http://www.consumeraffairs.com/automotive/nissan_titan.html

Check out the muffler fell off post LOL!

Look I know I’m gonna get piled on for taking the side of the American auto maker, that a no-brainer for no-brainers.

Corporate America does not want us building the products we buy. They surely do not want us demanding that the products we purchase be built in the US by US workers. They want to control labor and labor costs of everything we are allowed to purchase. They are smart, and they are succeeding. It won’t be long now before their plan will be complete. You haters will usher that along with the torrent of anti-American posts that always follow anybody trying to say something good about US cars.

So tell yourself whatever makes you feel better. Or you could actually look at some reports on the quality of US cars??? Nah, that might confuse your preconcieved and pre-programed thought patterns.[/quote]

Not telling myself anything or buying into anything, just going from experience. Yours was different from mine, good for you. Still will not buy another gmc truck, possibly a Ford as I have had success with them in the past.

Look, the qaulity may have improved recently but a lot of folks, me included, bought worthless piles of junk from GM, Ford and Dodge from the 70’s through to the early 2000’s. Wonder where some of the programming came from???? Could it be 30 yrs of crap??? Ya, no excuse for those preconcieved and pre-programmed thought patterns. Maybe I created the problems because I was programmed to! 😉

The American companies have to win back trust and that will take time, they brought this on themselves.

[rnen]

[quote=Scarlet][quote=rnen]

I have owned nissan pick ups in the past and zero problems.

IMHO and experience GMC and their pampered union workers turn out crap. I must be the exception to the rule.[/quote]

I don’t know but I do know you are the exception when it comes to giving Nissan props for their POS

http://www.consumeraffairs.com/automotive/nissan_titan.html

Check out the muffler fell off post LOL!

Look I know I’m gonna get piled on for taking the side of the American auto maker, that a no-brainer for no-brainers.

Corporate America does not want us building the products we buy. They surely do not want us demanding that the products we purchase be built in the US by US workers. They want to control labor and labor costs of everything we are allowed to purchase. They are smart, and they are succeeding. It won’t be long now before their plan will be complete. You haters will usher that along with the torrent of anti-American posts that always follow anybody trying to say something good about US cars.

So tell yourself whatever makes you feel better. Or you could actually look at some reports on the quality of US cars??? Nah, that might confuse your preconcieved and pre-programed thought patterns.[/quote]

Not telling myself anything or buying into anything, just going from experience. Yours was different from mine, good for you. Still will not buy another gmc truck, possibly a Ford as I have had success with them in the past.

Look, the qaulity may have improved recently but a lot of folks, me included, bought worthless piles of junk from GM, Ford and Dodge from the 70’s through to the early 2000’s. Wonder where some of the programming came from???? Could it be 30 yrs of crap??? Ya, no excuse for those preconcieved and pre-programmed thought patterns. Maybe I created the problems because I was programmed to! 😉

The American companies have to win back trust and that will take time, they brought this on themselves.

[rnen]

[quote=Scarlet][quote=rnen]

I have owned nissan pick ups in the past and zero problems.

IMHO and experience GMC and their pampered union workers turn out crap. I must be the exception to the rule.[/quote]

I don’t know but I do know you are the exception when it comes to giving Nissan props for their POS

http://www.consumeraffairs.com/automotive/nissan_titan.html

Check out the muffler fell off post LOL!

Look I know I’m gonna get piled on for taking the side of the American auto maker, that a no-brainer for no-brainers.

Corporate America does not want us building the products we buy. They surely do not want us demanding that the products we purchase be built in the US by US workers. They want to control labor and labor costs of everything we are allowed to purchase. They are smart, and they are succeeding. It won’t be long now before their plan will be complete. You haters will usher that along with the torrent of anti-American posts that always follow anybody trying to say something good about US cars.

So tell yourself whatever makes you feel better. Or you could actually look at some reports on the quality of US cars??? Nah, that might confuse your preconcieved and pre-programed thought patterns.[/quote]

Not telling myself anything or buying into anything, just going from experience. Yours was different from mine, good for you. Still will not buy another gmc truck, possibly a Ford as I have had success with them in the past.

Look, the qaulity may have improved recently but a lot of folks, me included, bought worthless piles of junk from GM, Ford and Dodge from the 70’s through to the early 2000’s. Wonder where some of the programming came from???? Could it be 30 yrs of crap??? Ya, no excuse for those preconcieved and pre-programmed thought patterns. Maybe I created the problems because I was programmed to! 😉

The American companies have to win back trust and that will take time, they brought this on themselves.

[rnen]

My wife and I are in the same boat, 220k in cd’s maturing this summer. I was thinking of cd’s again but now am thinking at least some in gold.

A very confusing and risky time.

[rnen]

My wife and I are in the same boat, 220k in cd’s maturing this summer. I was thinking of cd’s again but now am thinking at least some in gold.

A very confusing and risky time.

[rnen]

My wife and I are in the same boat, 220k in cd’s maturing this summer. I was thinking of cd’s again but now am thinking at least some in gold.

A very confusing and risky time.

[rnen]

My wife and I are in the same boat, 220k in cd’s maturing this summer. I was thinking of cd’s again but now am thinking at least some in gold.

A very confusing and risky time.

[rnen]

My wife and I are in the same boat, 220k in cd’s maturing this summer. I was thinking of cd’s again but now am thinking at least some in gold.

A very confusing and risky time.

[Author]

Posts