Will President Obama HELP ALL OF US with MORTGAGES?
What do you tell a client that calls and can't get the lender to help them with their mortgage rate or payment that they can no longer afford BECAUSE THEY HAVE NOT MISSED A PAYMENT?
WHY PUNISH THOSE THAT HAVE BEEN MAKING THEIR PAYMENTS ON TIME? Even if you don't agree with loan modifications - you should agree that if the lenders are helping those who have missed payments they should help the ones that are struggling to make their payments as well.
I am hoping that he will refinance everyone at 4% interest and allow us to write off the amount over market value. If not, we will see a ton of people walking away from their homes for years to come!
I have a bunch of short sales in the hands of lenders and some of my sellers would much rather keep the home if the payments would be adjusted to an amount they can afford. I would be much happier calling the client with good news that they can stay in their home than get paid for short selling it to another buyer or investor!
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