HAMP Helping Fewer and Fewer Homeowners

Of course this didnt work, We gave the banks TARP money to help people and all they did was pretend to help people. This program isnt real! I am in the mortgage biz so I know. The people that need help wont get it cause they have money issues, but it is made to be where we are no longer helping people. We prefer to help the banks, and allow the government to do what ever they want. Wake up people.

It didn't work because it is targeted to people who don't need it. If your mortgage payment exceeds something like 35% of your monthly income, or less than 23% (i think) then you don't qualify. The people who need the help aren't eligible as a result. It makes about as much sense as the rest of the nonsense that comes out of Washington. A whole lot of red tape to get a whole lot of nothing. I tried modifying my mortgage through this program and though I didnt qualify with Obama because my mortgage payment was like 48% of my monthly income at the time (15 year mortgage with 6 years to go), the bank worked something out with me instead. Had I had a 30 year mortgage and my payment was lower I would have qualified, but then again I wouldn't have needed it! Feds are so clueless and have no grasp of reality. It is within their power to fix things if they would pull their heads out of their rears.

Need to go back even further & ask:
Why, who & what was the Community Reinvestment Act - which Party did that benefit? Remember former Pres. Clinton?

Remember banks could not establish branches unless they made loans to those who could not & often did not qualify under that Act.

Then remember that in 2001, 2003, etc then President G. W. Bush tried to do something & gave plenty of warning - but remember the Congress during Bush's last term? Remember the Party in majority?

Yep - you got it! Democrats - remember Barney Franks, Chris Dodd & company - assuring all there was nothing weak about those Mortgage giants & I don't mean the banks???

We don't hear much about any of that, do we?
Ever wonder why?

Help is not what a majority of people seem to want,, what they want is their loans to be forgiven or nearly so, they feel entitled to the home just because they are breathing,, it's sad to see the im entitled attitude in this country, now the ows nuts are doing it, forgive their student loans? sure thats gonna happen , luckily we still have a country where you are entitle to the luxeries but you pay for them,

Shoulda, Woulda, Coulda! Shoulda Nationalized the banks and not bailed them out! That way we could have fired all of the CEO's involved in the junk mortgages and prosecuted the rest! Then the government would be renegotiating the mortgages instead of the banks using the money to give their execs massive raises! It's really a shame that we have only one political party that's logical (And it's not the GOP!

Is it any wonder when it fails so drastically or was it planned to fail and put more people out of their homes? My daughter applied for the program and was told she would qualify if she would get behind 2 house payments so she did that. Then she applied and was told to send in paperwork and she did again and again and again. They had no intention of modifying it but now she was in foreclosure and owed not just the back payments but absurd penalties and interest and attorney fees. I and her brother both told her walk away and let them have your 70,000.00 dollar home that you still owe 145,000.00 dollars on. Now the American people are stuck with this loss not her. The fleecing of America by it's own government.

One of Obama's $500 Billion gafu's. They spent less than 10% of this money. Now where is it at?

We thought using the Obama Home Modification for our home as we were a few months behind in our mortgage. When we applied, all our credit cards were closed and put our 790 score right to 500. We were denied. So now we have no credit. And we are in worse financial shape than ever now. It was a sham. Everybody that I know or heard about it were also denied and all their credit scores have bottom rocked. Very sad.

Another expensive farce from the government

It's helpful if you're able get it done. I'm in the process right now and will reap the benefits when it's completed.

This program is a joke! I have recently become disabled and my Social Security payments don't start for a few months. Being without much income during this period I contacted my mortgage carrier (JP Morgan Chase) for help. Their answer? Don't make the payments, get behind, mess up your credit, then we will see about helping you. I have even tried for a modification in the past and got nothing but misinformation, lost paperwork, and aggravation. I think it's a sad state when decent, honest people who try cannot get the help they need.

There were minimal, if any, regulations put on these banks for the use of the TARP money. Isn't that strange, given that lawyers make up the majority of the Congress?? The banks got the money, used it to buy other banks and give out huge bonuses to those at the top of the food chain and the people for whom the money was intended were left to fend for themselves. What kind of idiosy is telling a homeowner to deliberately fall behind on their mortgage payments?? Why does the paperwork have to be submitted ad nauseum?? There are payments made on my mortgage that are in dispute and I can't even get a payment history from Bank of America!!
It's no surprise that hardly anybody has been helped with all these billions of dollars - it's like all the rest of the trillions, down the toilet!!!

Come people are you all really serious..This man that they say is in the white house is worst than Jimmy Carter could ever be..Please wake up make your coffee and really find out who this man truly is!!!!!!!He is not the man that was suppose to lead us together he has made us so full of hate!!!!

Am I supposed to be shocked by this??? I know alot of people who tried to get help, and I also know alot of people who were turned down and lost their homes. A couple of friends are just waiting for that final foreclosure letter. This has destroyed them.

I wish you luck but don't be fooled by these crooks. They will string you along, take any money they can get from you in the form of temporary payments "while you're waiting for final approval" and then they will take your house. It's happening over and over and over. So be very aware of what you're agreeing to do.