Comments on: Are Mortgage Modifications Sending Out The Wrong Message? http://www.fhaloanpros.com/2008/11/are-mortgage-modifications-sending-out-the-wrong-message/ The Unofficial Guide to FHA Loans & Mortgages Sat, 21 Nov 2009 09:53:02 +0000 http://wordpress.org/?v=2.6 By: LJ http://www.fhaloanpros.com/2008/11/are-mortgage-modifications-sending-out-the-wrong-message/#comment-39912 LJ Wed, 28 Jan 2009 15:33:57 +0000 http://www.fhaloanpros.com/?p=747#comment-39912 I agree for homeowners still paying their mortgages it must be confusing, especially after watching all the uncertainty that is on the news about the number of job loses our country is facing each day. It's really a hard pill to swallow if you are living paycheck to paycheck and you are scared of losing your job, or if you've lost half or most of your money in in the stock market or if your 401K has totally vanished not to mention if you have a sick love one and you don't have insurance and money to pay for prescriptions. Ask yourself, what would you do? Would you still pay your mortgage or would you put that money aside for a raining day and take advantage of the bail out money that should be set aside to help struggling homeowners? In this economy people are thinking about how to survive, some people may feel so overwhelmed and pressured and as a result they blow their brains out, because of the stress others may decide to kill their entire family, these horrible acts are taking place in America Right Now, because of situations caused and because of decisions that were made by individuals that were mainly concerned about a few people. As a result of those decisions hard working American people are faced with the the most challenging times since the great depression. I often ask myself, how on earth could this country have taken advantage of every American in such a way? Did the previous administration not have any one of the team that could envision what was to come as a result of their decisions. And still today with the big bail outs, this is just another way for Americans to be raped by another form of greed. Give the banks the money, but are banks known to loan money to someone who does not have a job or to someone who has a low credit score or to someone who has a foreclosure on the credit report? HECK NO!!! What about the auto dealers bail out, can you buy a car without a job? Can you buy a Car with poor credit? HECK NO!! So going back to the original question, should people still pay their mortgages or should they start saving their mortgage money for a raining day and apply for the bail out money(loan modifications)? Better yet if no loan modification is offered, would you consider just walking away from your property? I know what I would do, what about you? I agree for homeowners still paying their mortgages it must be confusing, especially after watching all the uncertainty that is on the news about the number of job loses our country is facing each day. It’s really a hard pill to swallow if you are living paycheck to paycheck and you are scared of losing your job, or if you’ve lost half or most of your money in in the stock market or if your 401K has totally vanished not to mention if you have a sick love one and you don’t have insurance and money to pay for prescriptions.

Ask yourself, what would you do? Would you still pay your mortgage or would you put that money aside for a raining day and take advantage of the bail out money that should be set aside to help struggling homeowners?

In this economy people are thinking about how to survive, some people may feel so overwhelmed and pressured and as a result they blow their brains out, because of the stress others may decide to kill their entire family, these horrible acts are taking place in America Right Now, because of situations caused and because of decisions that were made by individuals that were mainly concerned about a few people. As a result of those decisions hard working American people are faced with the the most challenging times since the great depression.

I often ask myself, how on earth could this country have taken advantage of every American in such a way? Did the previous administration not have any one of the team that could envision what was to come as a result of their decisions.

And still today with the big bail outs, this is just another way for Americans to be raped by another form of greed. Give the banks the money, but are banks known to loan money to someone who does not have a job or to someone who has a low credit score or to someone who has a foreclosure on the credit report? HECK NO!!! What about the auto dealers bail out, can you buy a car without a job? Can you buy a Car with poor credit? HECK NO!!

So going back to the original question, should people still pay their mortgages or should they start saving their mortgage money for a raining day and apply for the bail out money(loan modifications)? Better yet if no loan modification is offered, would you consider just walking away from your property? I know what I would do, what about you?

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