The Obama Plan a Retrospective

It has been a few months since the President announced the Make Home Affordable Plan and implemented it. While the concept has not yet disappeared from the rear view mirror I think their are some things that are worth commenting on. First, after the government announce that it was willing to pay the lenders for each plan that met the Obama criteria, the lenders suspended the modification requests in progress to determine if they were eligible for reimbursement. This in and of itself has caused a massive back log at all of the major lenders and has made it even more difficult for the homeowner to obtain a modification.Of course their is a golden lining to the cloud. If the lender is willing to modify a loan to meet the Obama criteria, (a cap of 31 percent of the borrower's for principal interest taxes and insurance., than it is theoretically possible to obtain a rate a low as 3.5 percent.The problem is simple, a homeowner just does not have enough knowledge or experience to negotiate the best deal for themselves. Consequently they are flying around in a cloud without a navigation system. E Mortgage Recovery LLC has processed and obtained thousands of Mortgage Modifications. We a re dedicated to Saving the American dream one family at a time.if you are trying to obtain a modification on your own, or working with a Company that moves at a snails pace and does not keep you informed of developments on your file call me at 610-317-1501 ext. 108 and we would be glad to provide you with our free analysis of your mortgage foreclosure problem. Time is of the essence your lender is charging you penalties late fees, legal fees and each day your payoff increases. We want to help you!