gadvice123

Why the 2008 Housing Relief Bill is No Relief

All I see is a new game of fraud and deceit. How many toxic loans can we roll over into the "new program" How many people can we trick into believing we can get them a new rate and payment. "For a fee of 2K we can start the process of moving you over to the new plan"

This was mentioned on another site but not here. While many of these people have no equity the current plan will never allow them to collect more than 50% of the appreciation of the house until the loan is paid off. This is not going to work for the finically stupid.

< 1 year 100% of equity goes to government/lenders

< 2 years 90% of equity ” ”

< 3 years 80% of equity ” ”

<4 years 70% of equity ” ”

<5 years 60% of equity ” ”

>5 years 50% equity share


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