Of the Mistake that is the Obama Housing Bailout

A new Obama mortgage bailout is being proposed. People see that it is quite similar to the old one. The new Obama bailout moneys being injected is worth about 200 billion dollars. Again.



Why is it that the more someone tells you what you should do about your life or yourself, the more you hate it and you feel the need to rebel against the advice? At least that’s how it is for me. Perhaps it’s because I have been lectured so many times as a child while being hit with a belt. Perhaps it’s because I felt bullied or threatened. What is it that creates the pride that makes you hate admitting that you were wrong? That what you did made things worse. That it was your fault, your decision. And why is it that these kinds of feelings don’t usually appear in the issue of love. Is it because I knew too well the satisfying results of admitting your mistakes in love but not in other parts of life like work and responsibility? Perhaps. I don’t know. But what I am sure of is that the Obama housing bailout plan is a mistake. And the administration better fess up to it.

Everyone is fighting over the 200 billion dollar Obama bailout moneys distributed to Freddie Mac and Fannie Mae. So many people argue about the fact that the Obama administration is still working to create a kind of solution that only serves as a show move. A move to instill confidence back into the economy, but does not really have enough significant effects to raise it up on its own. The Obama mortgage bailout doesn’t even have a clear enough break down of expenditure. Please Mr. President, show us the money.

Upon Hearing the Obama Bailout News

The biggest question I have been thinking about for the past few weeks was whether or not I would qualify for this new Obama Bailout plan. I just heard about this Obama Bailout news on T.V, and learned that it could just be the solution to stop foreclosure. This became a very interesting topic for me since I just lost my job and money is not coming in smoothly. I started researching about it and here are some useful things I have learned.

Qualifications:

1. Tragedy/Cause for financial burden
2. Mortgage higher than 31% of monthly income
3. Home must be one’s primary home
4. Feasible new payment plan

Those who are about to face foreclosure can rejoice because the Obama Administration is going to help us. The $200 B fund will be injected to Fanny Mae and Freddie Mac so that they can help more people stop foreclosure.

Now as for the first item in this list of Obama bailout package qualifications, let me elaborate about that. The first thing that they would look for is some kind of unavoidable cause for your mortgage problems. The most common reasons for this are if you or your partner loses a job, if you or your partner gets demoted or gets an income decrease, if you get an injury or illness that prevents you from working for a time, if there is a medical bill that you are having trouble paying, if there are unavoidable new expenses such as a new baby or renovation of the house due to natural calamity or accident. It just has to be something financially debilitating and unavoidable at the same time.

The Obama bailout package sounds really good. You just have to remember that there should be some means for you to pay the new modified loan. There is some criticism of it though, and I’m not sure why. I guess those who aren’t in my same situation can’t understand how necessary the Obama bailout plan really is.

Loan Advocacy Group In-line with OBAMA BAILOUT PLAN

Despite the various detractors and negative sentiments that plague the bailout plan proposed by US President Barack Obama, most banking and housing experts agree that more people stands to benefit from this economic life preserver. Many opposed to the plan have already expressed their belief that the bailout plan maybe a good thing for those who have incurred significant debts and are in great danger of foreclosure and losing their house, but not so great for those who have spent frugally and not incurred such a large debt. Still, the American banker’s Association gave their praises to the bailout plan, saying it is a constructive, flexible, and multi-faceted initiative that is like to have a positive effect. In this aspect, the Loan Advocacy Group agrees with US President Barack Obama. People definitely need help with their loans, and huge numbers of families stand to lose their homes to foreclosure because of unpaid loans, especially now with the recession exerting even more financial pressure on people everywhere.

Just like the bailout plan, loan modification as offered by the Loan Advocacy group is something that will offer more than just a glimmer of hope, but rather, a real chance to get over the burgeoning unpaid loans that a family has incurred and stave off the threat of losing their homes to foreclosure, which is the natural result of not being able to pay their dues at the right time, or at all, which is the case for some families. Most people who do get their homes foreclosed do so because they either do not know enough of loan modification to apply for it and make use of the opportunity to arrange for better terms on their loan, or get their application for a loan modification denied because of various reasons, usually because the entire procedure was not properly explained to them and they were unable to meet some of the prerequisites. Still worse, some are even victimized by scammers who have seen fit to take advantage of the misfortune of others and try to deceive them into believing they are actually “middlemen” or supposed independent facilitators of loan modification groups, and run away with whatever little remaining money the indebted homeowners have, leaving with no modified loan, no money, and pretty soon, no house as well.

The Loan Advocacy Group is a recognized institution made up of professionals who are seasoned experts in dealing with loan issues, legal experts well versed in matters of the law that govern loan issues, and a support team that fully understands that people in need of a loan modification are specifically that: people who are in need, and not people who need further troubles from an already long and winding process that may or may not guarantee any help in their plight. The Loan Advocacy Group is here to help these people and provide them with a viable solution to their foreclosure dilemmas.