| Obama's Stimulus Plan - Is this actually correct? |
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obamastimulates
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Location: USA
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| Obama's Stimulus Plan - Is this actually correct? |
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I recently saw this article (copy and pasted below) which I think came from this site: http://obamasstimuluspackage.net But what I'm wondering is, 1. Is it actually right? And also, what about the $8,000 tax credit? How does that part work with this?
"Here are the key features of the Stimulus Package:
- In the past, if your home equity was under 20% you could not apply for a loan modification. Under the new Package, these homeowners will qualify for loan modification. Loans with Freddie Mac or Fannie Mae are eligible for loan modification.
- The new monthly mortgage payments will not exceed 31% of your gross monthly income.
- If you currently have an adjustable rate mortgage, you can modify your loan to be a fixed rate mortgage. With the steady drop in interest rates from 6.5% to 5.16%, this can add significant monthly savings for the homeowner.
- Finally, the mortgage terms can be extended by 20-30 years further reducing your monthly payments through a reduction in your mortgage rate."
Thanks for the advice you can give...I'm kind of on a tight deadline if you know what I mean.
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Sun Sep 20, 2009 4:59 am |
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Nick Brian
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Obama is helping the mid class citizen to avoid the foreclosure. It's a second chance to save their property. It's already discussed in various forums and news channels. But it's not a place to discuss those here.
Santa Cruz Ca Homes Santa Cruz Real Estate Santa Cruz Real Estate Listings
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Sat Sep 26, 2009 9:40 pm |
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SaraCEO
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There are many hot discussion made about the Obaman's plan on the different channels and live forums.
real estate investing videos
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Fri Aug 13, 2010 1:45 pm |
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stockomni
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Yeah, I second what was said -- the real estate market and such is geared to the middle class citizen in regard to Obama's stimulus plan. I'd say, it will be interesting to see what happens next and also what will happen for low-income families.
It's interesting how Obama's plans are so important and big, yet we all have something bad to say about the ideas
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Mon Aug 23, 2010 2:37 pm |
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