I 'll provide links at the bottom of the post but from what I've read and please,check it out for your self not really helping anyone except the banks.
Freddie and Fannie get a pass of course,(I believe they own a majority of loans).
I don't know of anyone that was helped through his previous "Mortgage Help plans".
The inevitable was or has been delayed,(By tacking everything on to the end of the mortgage,lowering the payments for a few years.Only to have them gradually go back up.)
Or the banks just would not help.
I personally have gone through the nightmare with "Wells Forgo" as my servicer.
Even after agreeing to and accepting a short sale.
Two day's before it was going to foreclose(they never stop the forecloser proses only post pone it for a couple of weeks at a time) they (Wells Fargo) changed their minds (wanted one more piece of paper and didn't want to wait on it or give the Realtor time to get it) and I lost my house after all most 18 months of bullshit.
Check out the links,do your own research.
It's politics as usual.
The big banks get bailed out again.
We pay for it in some way or form eventually.
Fannie and Freddie get a pass.
It all looks good in a election year though.
Obama’s Refi Plan Is Another Bank Bailout, Stockman Says: “The Worst Kind of Crony Socialism”
Obama’s Refi Plan Is Another Bank Bailout, Stockman Says: “The Worst Kind of Crony Socialism”
$26B Mortgage Settlement: Good for Banks, Not So Good for Homeowners
$26B Mortgage Settlement: Good for Banks, Not So Good for Homeowners
Will that housing deal help you?
To keep up with the news on the "Settlement"
http://www.nationalmortgagesettlement.com/news
The Home page.
http://www.nationalmortgagesettlement.com/
Find your states "Attorney General"
http://www.naag.org/
Pols Seek Quick Fix Via Foreclosure Deal, Refinancings
FTA,
There’s something remarkably similar about the $25 billion ‘robosigning’ settlement reached by a handful of big mortgage lenders and the three separate government refinance programs aimed at helping struggling homeowners pay their loans.
Both efforts seem to miss a larger point: that there is no quick-fix solution to the long-running U.S. housing slump. And, because of that, neither pursuit is expected to have much of an impact.
What settlement will and won't do for homeowners
GOD bless America and you.



