My Sincere Apologies America and ....

[SlingBlade]

To my young neighbors (30 somethings) And the seven million others in the same exact situation.

My neighbors, A younger couple with one beautiful daughter who is now six years old are both unemployed. He a machinist, (Around here now days that's akin to being a black smith),Is on an extension for unemployment benefits, Worried sick that a job may not be forthcoming before his extension runs out, And her,an Ag credit specialist (Not many loans going to the small farming operations any longer),on her first round of benefits.

They heard from myself and others that the Obama Administrations Mortgage bailout program was designed to help people exactly like them in these very difficult times. They checked with nearly every mortgage company they could find and all admitted that if able to refinance they would save around $400.00 per month on their existing mortgage payments.

Problem is because they are both unemployed and on unemployment they don't qualify for the bailout or a refinance. And yea, They wrote their politicians in hopes of some help with not a single reply back.

Thanks allot Sen. Durbin and Sen.Burris for proving that there isn't an inch of daylight between you and our Re-Puke Congressman, Mr. Manzullo )

"Gee, W e'er sorry, Your both unemployed so you don't qualify for a reduction in your monthly payments"

I know that this isn't a unique situation. But as Mr. Political here banding about my "Impeach Bush" signs for eight years and then jumping on the Obama band wagon, My giddiness even affecting my neighbors, we all voted for the "Change you can believe in" Candidate.

That was then, This is now and I am so sorry.
Please forgive me America, I honestly believed, I really truly did. :(

[lefthandedlefty]

1. They will glady make the loan if you can prove you don`t need it

[timtom]

2. I join you in begging forgiveness.

I weep for America. I mourn for America.

(PS -- I just gave it the one rec it now has.)

[SlingBlade]

15. Thanks for the Rec my friend

But even that fails to cheer me out of what is becoming some type of depression over this. :(

[murielm99]

3. Right now I am about one inch from walking away from

all the work I have done for many years. I am as disillusioned as you.

I will try to keep my hand in, but my heart is not in it. George Gaulrapp, mayor of Freeport, is running against Manzullo. Support him. You have a good person running for state senate in Rockford, too, Jennifer Cappaglia. (Not sure of that spelling).

You guys have an even more screwed up local Democratic group than we do here in Ogle County.

Confront Durbin if you can. Confront state politicians at some of the events that will be taking place before the primary and before the general election. I don't know what else. I get tired of feeling like I am alone in this. You must feel the same way.

[SlingBlade]

14. murielm99, I know your work

And we all know the effort that you have made. Thanks You
But Yea, I'm pretty down if not just ready to throw in the towel completely

Ya Know, I gave the democratically controlled Congress a pass for not doing what
I and so many knew needed to be done, Impeach Bush and indict those SOBS as War Criminals
just because I felt that indeed it would take away from things so desperately needed in this
nation. Real Health Care Reform, Financial Reform, Election Reform and so many other things
that you and I and so many other D.U.ers have poured our souls into this past decade, And for what ?

I really do feel ashamed, How naive I was and twice in a lifetime at that.

[hfojvt]

4. I don't see how they could possibly save $400 a month on a re-fi

That doesn't even sound possible. Interest rates have not changed that much. AFAIK they are about the same as when I got my home loan in 2001.

Sounds like just another "bash the Democrats" anecdote.

[Codeine]

6. This. nt

[noamnety]

8. It doesn't sound out of line to me.

The modification program drops the interest rate to 2% if that's 31% or more of their income. If you got a 30 year fixed rate mortgage at 2% interest, you did extraordinarily well - the average rate in 2001 was about 7%.

The modification program starts a new 30 year mortgage, so if they already had a few years of payments under their belt, that makes a difference in the monthly payments - financing what's left over 30 vs. 25 (or whatever) years.

If that still puts them over 31% of their income, the mortgage can be extended to 40 years, giving them even smaller payments.

[SlingBlade]

17. Yea, I spose thats it ....

But then REALITY sets in

[Codeine]

5. Let's be just a bit more realistic.

Why on earth would you extend a mortgage loan to someone unemployed? :shrug:

[sad sally]

9. Don't let them stay in their home - put 'em out in the street where they belong, right?

Seriously, lots of currently unemployed people are hoping and actually want to believe the President when he says he's fighting for them to go back to work. Is it better to have all these empty houses and the families that used to live in them staying with friends or relatives or in shelters or worse yet under a piece of cardboard? Is that what this great America has become?

[Codeine]

10. I didn't say either of those things.

But thanks for attributing those statements to me; very nice of you.

I'd rather they kept their house, but expecting a private entity to extend a loan to an unemployed person is insane -- any business that did that would soon cease to be a business. The onus needs to be on the government to assist more.

[sharesunited]

7. A modification is the way to go in their case. Not a refinance.

There is a good chance that their mortgage is actually held by fannie or freddie, regardless of who is servicing it.

Run the mortgage lookup search engines at makinghomesaffordable.gov

If their mortgage is held by one of these entities, FHA rules are going to come to their rescue.

Some of those rules deal directly with the situation where the borrowers are unemployed and need a reduction in their payment.

The servicers can be lazy, dishonest, and belligerent at times. So your neighbors just need to be patient and assert their rights.

Servicers work FOR the real mortgage holder. And when the mortgage holder is fannie or freddie, that should, in theory, give the borrowers the ability to obtain relief they are entitled to if they follow through with the steps.

Also, there is a HUD-certified housing counseling agency in their county which can be their advocate. County government ombudsman should be able to identify who that is. (Any local mortgage company which is doing reverse mortgages for seniors also knows who the certified counseling agencies are, because counseling is mandatory for reverse mortgages.)

[QC]

11. Invite your neighbors to join us here at DU, so that

comfortable people can tell them to stop being so whiny about their pet issues.

That'll make them feel better!

[SlingBlade]

18. They know well about D.U

Thanks again mainly to me, And that's one thing I don't regret, Save for the Loony Tunes
who fail to see the reality around us that is.

And remember, I was one of those Loony Tunes for quite sometime myself. :(

[bvar22]

12. I've had to make some retractions and apologies too.

Unlike Mr Obama,
I DID campaign (for the Democrats) on a "Public Option like Medicare".


"There are forces within the Democratic Party who want us to sound like kinder, gentler Republicans. I want us to compete for that great mass of voters that want a party that will stand up for working Americans, family farmers, and people who haven't felt the benefits of the economic upturn."---Paul Wellstone

[lunatica]

13. Picture this: President McCain and VP Palin

There is not a doubt in my mind that many millions more would be homeless now, without even the break of getting unemployment. Remember McCain's idea of fixing the economy las year? He kept telling us the economy was just fine. He'd probably still be saying that, or he'd cut spending like Hoover did. Obama didn't create this mess. Just remember that. It would have happened anyway.

By the way did your neighbors hear about getting stimulus money for going back to school? I believe they can get $5,000. And they don't have to look for employment to get the unemployment check if they're in school.

[SlingBlade]

16. No Problem Dude, 6 months Ago, I Was YOU !

And there is another apology I owe, To my fellow D.U,ers.
Nobody went into hyper-drive more than I when I would see what I perceived
as an attack or slam Obama thread.

Please Accept my apologies, Forgive my simpleminded world view and anything
I may have said or done on behalf of Obama, Yes.... Just as the WingNuts say..

My Messiah and I was his prophet, A false prophet as it turned out to be.

Now it's my turn to, "Learn to Be Still" ...

It’s just another day in paradise

We are like sheep without a shepherd
We don’t know how to be alone
So we wander ’round this desert
And wind up following the wrong gods home
But the flock cries out for another
And they keep answering that bell
And one more starry-eyed messiah
Meets a violent farewell-

Learn to be still ..... :(
The Eagles