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economic stimulus: Looking For Acorns---Homeowner Affordability And Stability Plan---Part 2(E) - 03/01/09 09:00 AM
The final component mentioned in the Stability section of the White House housing plan has a stated goal of supporting local communities. Information concerning this in the Executive Summary is, at best, sketchy. We will want to review the details, once they are released March 4th.
 
Strengthening FHA Programs and Providing Support for Local Communities
 
Ease restrictions in Federal Housing Administration Programs, Including Hope for Homeowners Strengthening Communities Hardest Hit by the Financial Housing Crisis  
 
The current Hope for Homeowners, as I understand, has experienced limited success. This initiative was designed to assist struggling homeowners with an … (13 comments)

economic stimulus: Here Comes The Judge—Homeowner Affordability And Stability Plan----Part 2 (D) - 02/28/09 10:15 AM
I have been breaking down the Homeowner Affordability and Stability Plan and providing a review of the plan’s various components. We are awaiting more details to be provided by the Administration, due to be released March 4th. The source of this review comes from the White House.
 
The component I am reviewing today is one for which I have great trepidation. I’m interested in hearing what you think.
 
Allowing Judicial Modifications of Home Mortgages During Bankruptcy for Borrowers Who Have Run Out of Options
 
This provision will allow bankruptcy judges to modify mortgages. (OH MY!)
The portion … (8 comments)

economic stimulus: Homeowner Affordability And Stability Plan----Loan Modifications----Stability Parts 2(B&C) - 02/27/09 10:31 PM
The details of the President’s Homeowner Affordability and Stability Plan are to be announced on March 4th. I have been reviewing the executive summary and fact sheet for the plan which is posted on the White House web site. Click here for your reading enjoyment.
 
Under the stability section components 2 (B&C) read as follows
2(B) Clear and Consistent Guidelines for Loan Modification
2(C) Requiring All Financial Stability Plan Recipients to Use Guidance for Loan Modifications
 
Clear and Consistent Guidelines for Loan Modifications
 
The premise for this component is that mortgage servicers, in some cases, have not … (6 comments)

economic stimulus: The President’s Homeowner Affordability and Stability Plan---Part 1 - 02/21/09 10:28 AM
The White House, this week, announced the Homeowners Affordability and Stability Plan. An executive summary of the plan may be viewed on the White House web site.
 
President Obama’s plan for the housing market consists of three components:
Refinancing for up to 4 to 5 million responsible home owners to make mortgage payments more affordable A $75 billion homeowner stability initiative to reach up to 3 to 4 million at-risk home owners Supporting low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac  
Today I want to address the first component of Obama’s plan. Understand that the … (11 comments)

economic stimulus: The Chattering Class And Porky Amendments - 02/16/09 09:28 AM
I have been fuming for days now over Senator Charles Schumer’s comments regarding the American Recovery and Reinvestment Act. Arrogance is on full display and you can view this for yourself.
 
I suppose this and other blogs make me part of the “chattering class”. And I do care. I have tried to be fair with this new administration. However, I find myself being thoroughly disgusted.
 
In the effort of fairness the license to pass this omnibus spending bill was granted by the Bush Administration. The passage of TARP both in its size and speed by which it was passed … (14 comments)

economic stimulus: “The Situation Could Not Be More Serious” - 02/08/09 09:14 AM
"It is inexcusable and irresponsible to get bogged down in distraction and delay while millions of Americans are being put out of work; It is time for Congress to act. It is time to pass an Economic Recovery and Reinvestment Plan to get our economy moving again...” President Barack Obama in a speech on February 6, 2009
 
I am becoming dismayed with the speed at which the American Recovery and Reinvestment Plan is moving toward passage. We all would like to see something done to help revive our economy. But, exactly what is in this legislation?
 
I decided to … (37 comments)

 

Jay Williams, Mortgage Loan Officer Getting You The Right Loan

Greenville, NC

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Greenville, NC

Address: 218 E. Arlington Blvd, Greenville, NC, 27858

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