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100,000 points.....a reflective moment.....
100,000 points.  Sign of passion over this business? Perhaps I just love blogging? Enjoy receiving comments?   Look forward to the next client who finds me because of Active Rain? Or my intense desire to see us recover from this economic recession and see homeowner's STAY in their homes vs. suffer foreclosures or short sales?
 

I have blogged a lot about keeping the homeowner in their home and I am still passionate about developing a plan to do just that.
In summary, I propose
•1)      implementing new common sense underwriting guidelines for the loans which are eligible for refinance, but the subordinating lender refuses to subordinate or any refinance which "makes common sense" for other logical reasons.  In cases where "common sense" underwriting does not prevail, mortgage insurance is placed on the subordinate lien to make the 2nd lien holder feel comfortable to agree to the subordination.
•2)      forbearance of debt (not elimination) for the amount of the mortgage in excess of 95% of current market value for those borrowers which can demonstrate a hardship.  Why should a stranger be allowed to buy a home at a price the current owner can afford?   Forbearance of debt is better than selling ... more

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