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obama: Turning Back Time Before the Real Estate Meltdown by Bob Boog - 09/07/09 03:23 PM
What if I could turn back time and elect you as president of the United States. The date is now September 7, 2004, and you have been able to keep all your present day knowledge.
Question: will you do something to stop the zero-down, no income verification real estate loans? Or will you just let things run their course?
You know these loans are bad and you have the power to stop the practice of issuing them. Are you brave enough to use your power, knowing that by doing so, you will help avert the greatest fiscal crises in the history … (0 comments)
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obama: Mortgage Forgiveness - A Bold New Idea - 06/28/09 07:19 PM
One of the stories lost during the media frenzy concerning Michael Jackson's death concerns a new idea for homeowners. It's called "vesting forgiveness of debt". This new idea from Washington might allow homeowners to refinance their existing underwater mortgages with new loans from the government. Why is this important?
Currently many Americans are walking away from their homes, not because they can't continue to make their payments, but because of negative equity. Based on a recent survey, approximately 26% of all foreclosures are strategic, meaning that homeowners feel that they would be better off walking away and trying to buy later, as … (0 comments)
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obama: The Making Homes Affordable Program - 05/27/09 03:19 PM
One of the things you’ll find when doing the Making Homes Affordable plan for homeowners is that you’ll get a letter back from the bank stating how much they will want the homeowner to pay on a “trial” basis. Sometimes the lender returns a three month “Forbearance Agreement”, while on other occasions it’s just called a “trial” period. Recently, for example, a client received a letter from his lender stating that the buyer was to make a payment each month in the form of certified funds in the amount of $1,045 per month – which is about half of what he … (0 comments)
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Robert Boog
Santa Clarita,
CA
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Bob Boog Realty
Office Phone: (661) 259-9723
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