Obama administration’s plan to help millions of homeowners refinance or modify their mortgages. I like this gustier of helping people keep their homes, the only problem is that not everyone will be getting this help. there is a list that will determine who will qualify for this aid.
some of the qualifacations are.
A. The plan is only going to help those who earn enough money to pay their modified loans. So the newly jobless may not get any relief.
B. To qualify, your monthly housing payment needs to exceed more than 31 percent of your gross monthly income
C. If your total debts, including your mortgage and any other revolving debt like credit cards, auto payments or student loans, are 55 percent or more of your gross income, you’ll need to work with a counselor who has been approved by the Department of Housing and Urban Development.
There are also restrictions with this plan, click on this link to view them.
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