Obama touts mortgage aid program, urges Congress to expand it ...
May 11, 2012 . President Obama has called for a new refinancing program that will allow all . to refinancing for homeowners underwater on their mortgages. . But Val Keller heard Obama promoting his new mortgage program last fall in .
http://www.washingtonpost.com/politics/obama-touts-mortgage-aid-program-urges-congress-to-expand-it/2012/05/11/gIQAFcynIU_story.html
The One Housing Solution Left - Mass Mortgage Refinancing ...
Aug 12, 2012 . With 13.5 million homeowners underwater — they owe more than their home . the government needs to find a new way to facilitate mass mortgage refinancings. . A mass refinancing program would work like a potent tax cut.
http://www.nytimes.com/2012/08/13/opinion/the-one-housing-solution-left-mass-mortgage-refinancing.html
Ineligible for Refinancing Just Because You're Underwater on Your ...
Feb 1, 2012 . The central part of that plan is a new program for so-called underwater borrowers that would allow them to refinance at lower interest rates, .
http://cnsnews.com/news/article/ineligible-refinancing-just-because-you-re-underwater-your-mortgage-step-right-obama
Step 1
Jeff Merkley's Plan For Underwater Homeowners
Jul 25, 2012 . The problem here is that the way a mortgage works is that a bank agrees to . Then the new entity will offer each underwater homeowner one of .
http://www.slate.com/blogs/moneybox/2012/07/25/jeff_merkley_s_plan_for_underwater_homeowners.html
The new housing-relief plan: Underwater rescue | The Economist
The new housing-relief plan. Underwater rescue. A plan to ease mortgage refinancing will have modest benefits, at best. Oct 29th 2011 | WASHINGTON, DC .
http://www.economist.com/node/21534805
Step 2
Eminent domain plan gaining support - SFGate
Jul 31, 2012 . The controversial plan, developed by Mortgage Resolution Partners in San Francisco and in the . would buy up privately held mortgages that are underwater, reduce the amount owed, and transfer the mortgage to a new entity.
http://www.sfgate.com/business/bottomline/article/Eminent-domain-plan-gaining-support-3751091.php
Step 3
Bank of America hopes underwater homeowners become renters to ...
Mar 23, 2012 . Bank of America hopes underwater homeowners will opt to become renters . month to upward of 1,000 customers in Arizona, New York and Nevada. . In the mortgage-to-lease plan, a borrower is expected to deed back his .
http://www.washingtonpost.com/realestate/bank-of-america-hopes-underwater-homeowners-become-renters-to-avoid-foreclosure/2012/03/19/gIQA4PYdVS_story.html
Step 4
FHA Offers New Refinancing Program For 'Underwater' Mortgage ...
A new program modifies the Making Home Affordable program and the FHA's own refinancing programs, allowing FHA lenders to offer FHA refinancing loans .
http://www.fha.com/fha_article.cfm?id=176
Step 5
California County Weighs Drastic Plan to Aid ... - The New York Times
Jul 14, 2012 . Monica Almeida/The New York Times . is considering an eminent domain plan on underwater homes that would lower mortgage payments.
http://www.nytimes.com/2012/07/15/us/a-county-considers-rescue-of-underwater-homes.html?pagewanted=all
Step 6
How to help underwater homeowners | Felix Salmon
Jul 25, 2012 . I'm a huge fan of Senator Jeff Merkley's new plan to help out the 8 million . on their mortgages but underwater and therefore unable to refinance.
http://blogs.reuters.com/felix-salmon/2012/07/25/how-to-help-underwater-homeowners/
3 New Ways to Get Real Help On Your Underwater Mortgage ...
Apr 9, 2012 . Bad news: Nearly 11 million mortgages are still underwater. . So let's break it down, program by program -- because this new assistance is .
http://www.dailyfinance.com/2012/04/09/3-new-ways-to-get-real-help-on-your-underwater-mortgage/
Photo Credits
- property image by Christopher Hall from kenwood car vacuum cleaner