Tom, It's funny you mention the difficulty in taking advantage of these home loan programs. I'm what I would consider a responsible homeowner and using common sense decided to check into getting our loan refinanced or modified due to our current interest rate being 6.375% but as you might guess we don't qualify for either program. So in reality, because we are current on our payment and didn't buy too much of a house for our budget we don't qualify for the savings which would result in nearly $200 less a month because of the record low interest rates. This is extremely frustrating considering the people who are getting help are the ones (assertion and I know it doesn't account for 100%) who bought homes they never could afford once the rates jumped up.
For the record, I admire anyone who can look beyond the smoke and mirrors and admit when something doesn't smell right.
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It's funny you mention the difficulty in taking advantage of these home loan programs. I'm what I would consider a responsible homeowner and using common sense decided to check into getting our loan refinanced or modified due to our current interest rate being 6.375% but as you might guess we don't qualify for either program. So in reality, because we are current on our payment and didn't buy too much of a house for our budget we don't qualify for the savings which would result in nearly $200 less a month because of the record low interest rates. This is extremely frustrating considering the people who are getting help are the ones (assertion and I know it doesn't account for 100%) who bought homes they never could afford once the rates jumped up.
For the record, I admire anyone who can look beyond the smoke and mirrors and admit when something doesn't smell right.