Return to the Buying and Selling Homes Forum | Post a Follow-Up

Obama's Stimulus Plan - Is this actually correct?

Posted by obamastim (My Page) on
Sun, Sep 20, 09 at 1:11

I recently saw this article (copy and pasted below) which I think came from this site: But what I'm wondering is, 1. Is it actually right? And also, what about the $8,000 tax credit? How does that part work with this?

"Here are the key features of the Stimulus Package:

- In the past, if your home equity was under 20% you could not apply for a loan modification. Under the new Package, these homeowners will qualify for loan modification. Loans with Freddie Mac or Fannie Mae are eligible for loan modification.

- The new monthly mortgage payments will not exceed 31% of your gross monthly income.

- If you currently have an adjustable rate mortgage, you can modify your loan to be a fixed rate mortgage. With the steady drop in interest rates from 6.5% to 5.16%, this can add significant monthly savings for the homeowner.

- Finally, the mortgage terms can be extended by 20-30 years further reducing your monthly payments through a reduction in your mortgage rate."

Thanks for the advice you can give...I'm kind of on a tight deadline if you know what I mean.

Follow-Up Postings:

RE: Obama's Stimulus Plan - Is this actually correct?

Hi "obmastim"...

The odd 'coincidence' that your freshly registered username just so happens to coincide with a supposedly non-related website you are asking about raises immediate suspiscion that you are emrely a spammer.

Then, when I visited the site you linked, and I see it is nothing but a generic advertisement selling page, I put 2 and 2 together; You're trying to drive up hit counts to this page at minimum, and hopefully drive additional hit counts to the links you've sold to the suckers on that page.

If I am being overly cynical, I apologize... we get a fair share here of what I just described, and you're amazingly identical.

If your question is sincere, then you can get all the details & verification you want from the government's explanative website;

Dave Donhoff
Leverage Planner

PS. GIYF - "Google Is Your Friend!"

Here is a link that might be useful: Making Home Affordable

RE: Obama's Stimulus Plan - Is this actually correct?

Thanks Dave for clarification. I too am uneasy with this posting. If this is an ad for his stuff then it will be removed.

 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!

Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.

Learn more about in-text links on this page here