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housing affordability and stability plan: The Doctrine Of Unintended Consequences—Currently In Play For The Mortgage Market - 03/14/09 10:22 AM
I recently completed a six part review the Homeowners Affordability and Stability Plan. In many of these posts, I mused about the Unintended Consequences that may be associated with elements of this plan.
 
As a disclaimer I must inform you this six part series was written between the time of the announcement of the plan and the March 4th date of details being released. I will need to conduct further review now that details have been released. I took a break and wrote about other subjects last weekend and Good News I’ve been really busy with my day job, originating … (10 comments)

housing affordability and stability plan: 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)

housing affordability and stability plan: 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)

housing affordability and stability plan: 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)

housing affordability and stability plan: Reaching Up To 4 Million At-Risk Homeowners—Housing Affordability And Stability Plan—Part 2 (A) - 02/22/09 11:18 PM
Reviewing the Housing Affordability and Stability Plan I intend to dig a little deeper in the leg directed toward stability. This initiative creates $75 billion to reach up to 3 to 4 million at-risk homeowners. Oh my!!!
 
I wrote about the affordability section earlier and you can view that post by clicking here. I also have written an overview of the stability component. You can view the entire plan by going to the White House web site.
 
Section A of the stability component is an initiative to reach up to 3 to 4 million at-risk homeowners. This is being … (10 comments)

housing affordability and stability plan: Homeowner Affordability And Stability Plan—Part 2—Stability - 02/22/09 12:53 PM
This week President Obama announced the Homeowner Affordability and Stability Plan. You can view a summary of this plan on the White House web site. Additional details are to be forthcoming on March 4th.
 
The three legs of this plan are:
Refinancing for up to 4 to 5 million responsible homeowners to make their mortgages more affordable A $75 billion homeowner initiative to reach up to 3 to 4 million at-risk homeowners Supporting low mortgage rates by strengthening confidence in Fannie and Freddie Mac  
Earlier I wrote a blog on the 1st leg, refinancing. Now I would like to … (4 comments)

housing affordability and stability plan: 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)

 

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

Office Phone: (252) 493-4802

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