Comments on: Treasury Skips Cramdown Hearing

By: jjohnson85249

jjohnson85249 — Sun, 19 Jul 2009 04:13:28 +0000

wall street lackeys now include the white house

When Geittner and Obama had the chance to push for loan modifications through the courts (bankruptcy judges)they chose wall street over main street. housing would have already started to recover if the legislation would have passed. Obama and Geittner chose to join a group of wall street lackeys – senators kyl, bayh, martinez,spectre and others rather than give homeowners a negotiating tool that would have been far more effective than anything thats been tried.Obama and Geittner are trying to save face by threatening the loan servicers (much the same way that they did with the banks that the taxpayers have bailed out)and no one is intimidated by this.The banking / mortgage interests are running this country and you can look at your elected officials campaign contributions to verify it. as long as wall street continues to pay for our elected officials votes- we don't stand a chance.perhaps next elections we (voters) should VOTE OUT all the incumbents and start over

By: kathleengrassoandersen

kathleengrassoandersen — Tue, 14 Jul 2009 01:50:03 +0000

I'm not at all surprised that the Obama adminstration is soft-pedalling something that he campaigned on…he's mesmerized by the myth of bi-partisanship. Transparency and accountability…remember those quaint concepts??? Well, it takes two to tango and the GOP can only square dance. They act like brats in a sandbox and will continue to do so until they receive the spanking they so richly deserve.

Our hard earned tax dollars went to banks and Wall Street by the billions only to be used as bonuses to reward the CEO's who brought us this crisis…while we got a whole $250…whooppeee. they're hanging on to our tax dollars instead of easing credit so they can swoop in and take everyone's home to boot. What's wrong with that picture?For shame!!!!

Consummate consumer advocate Ralph Nader would never have let this happen.

By: strangely_enough

strangely_enough — Fri, 10 Jul 2009 20:59:18 +0000

“Some Democrats said later that they interpreted the president’s silence to mean they were free to oppose the measure.”
That's a shocker. “More Dems” just keeps paying dividends. Just not to the voters.

By: shanefax

shanefax — Fri, 10 Jul 2009 17:10:17 +0000

Actual Guidelines From the Treasury
http://www.treas.gov/press/releases/reports/mod...

I just love this part that specifically tells the mortgage company they don't have to reduce principal:
Principal Reduction Option:
There is no requirement to use principal reduction under the Home Affordable Modification program; however, servicers may forgive principal to achieve the Front-End DTI Target.

Here is A Modification Calculator:
http://www.hughchou.org/calc/hasp.php

The only way to get help from our government is to CALL or Write Then: Calling is better.

The bill allows for some payment relief by getting to a 2% rate for a 40 Year Term. But if you live in places where home prices are upside down like Florida, Nevada or California its probably just not going to work. What good is this program when 1 in 10 people are upside down in there mortgages?

By: treetracker

treetracker — Fri, 10 Jul 2009 12:10:23 +0000

I guess when enough people are without jobs and are homeless and without health care, we can all go camp on the Washington Mall. Perhaps, only then, might the American people get the attention THEY deserve.

By: Apt604

Apt604 — Fri, 10 Jul 2009 11:56:41 +0000

I suppose Geithner has a better idea for dealing with foreclosures??

By: Doogie

Doogie — Fri, 10 Jul 2009 11:30:33 +0000

Shame on OBAMA, the Government and our Senators. The government is for the banks not the little people like myself who voted these fools in. My bank, my brothers bank and my sisters bank wont even modify our mortgages, they basically told me to go to hell and let the home go into forclosure. Wow thanks government go ahead and hand these precious banks more money. Each one of us are negative $279,000 K after puting down $200,000 when we bought. Shame on these banks. We need a whole new elected government including new Senators. NEW SENATORS that is what we need, VOTE FOR NEW SENATORS! May my bank go to He__!

By: kb123

kb123 — Fri, 10 Jul 2009 09:09:13 +0000

If Obama wants another term, he had better support cram down…..I have followed cram down all the
way through and saw how he did not promote it. It just made me sick to see all of his agenda pass, but
nothing to help people stay in their homes. I WISH JOE LIEBERMAN WOULD RUN FOR PRESIDENT, HE
WOULD HAVE MY VOTE. NOT PRESIDENT OBAMA, OR ANY REPUBLICAN OR BLUE DOG DEMOCRAT
THAT VOTED AGAINST HELPING PEOPLE HAVE SOME LEVERAGE AGAINST THESE GREEDY BANKS.
OUR ECONOMY WILL NOT RECOVER UNTIL BANKRUPCY REFORM HAS PASSED……..

By: berntlovenberg

berntlovenberg — Fri, 10 Jul 2009 08:48:07 +0000

I am now against Obama!

By: Treasury Skips Cramdown Hearing | Foreclosures For Profit

Treasury Skips Cramdown Hearing | Foreclosures For Profit — Fri, 10 Jul 2009 00:50:25 +0000

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