Comments on: Making Home Affordable Q & A

By: Seth

Seth — Sat, 29 May 2010 00:30:53 +0000

I’m trying desperately to keep my home after 6 months of unemployment. Does anyone know if the makinghomeaffordable is real or just a scam? I called the number and spoke to a counselor or just told me that I didn’t qualify because I was unemployed and I needed to get a job before I would qualify. She tole me that I would receive some information in the mail which never arrived and told me to call her back with any other questions. I never received anything in the mail and left many messages with her voicemail which haven’t been returned. This certainly seems like a scam and just a PR gimmick. I have so far been unable to find anyone who will help me get a refinance (even at the current rates) for my home.

By: Deanna Terrell

Deanna Terrell — Thu, 27 Aug 2009 07:23:28 +0000

I have a tax lien on my house from an under payment in 2006. I am trying to get “Innocent Spouse Relief” as my husband passed away suddenly. Will this disqualify me from the Home Affordability Modification Program?

By: Alice

Alice — Mon, 27 Jul 2009 22:38:35 +0000

I am wondering if the making home affordable modification is going to negatively impact credit scores. I heard they force you to pay the new (lower,) payment for several months before it is approved.

Also the home must be your primary residence, but I rented my home last year and am moving back. My address on my tax return will not be my home. Will this cause disqualification?

By: Dawn

Dawn — Fri, 10 Jul 2009 00:46:27 +0000

FYI there is another directive that is the most up to date it’s the 09-05R It says you can have no more than 3 times you mortgage payment-NOT monthly debts in liquid assets. My question is do you know how my FICO score will be effected in laymans terms not the “reported as 09″ or “reported as 28″

By: San Jose Gal

San Jose Gal — Thu, 04 Jun 2009 21:45:18 +0000

This was a helpful posting. But I have an additional question regarding savings. What if you have over the “three times your monthly debt payments” in savings.

What do they count as debt? Car loans, 2nd mortgage on primary house, credit cards??

Thanks for your help!

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Wed, 13 May 2009 06:12:18 +0000

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By: Jenny

Jenny — Tue, 12 May 2009 15:14:17 +0000

great post.

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Carnival of Debt Reduction- Comedy Edition | Financial Highway — Mon, 11 May 2009 08:04:29 +0000

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By: Friday Finance Findings for May 8th : Generation X Finance

Friday Finance Findings for May 8th : Generation X Finance — Fri, 08 May 2009 14:40:51 +0000

[...] Making Home Affordable Q & A – I wrote about this a few weeks ago, but the Making Home Affordable plan is geared towards those who may not have the equity or credit score needed to refinance their mortgage, and to help those in risk of losing their home to foreclosure. But, not everyone will qualify. Here’s a quick summary of what you need to know. [...]

By: Imee

Imee — Fri, 08 May 2009 07:48:36 +0000

Thanks for the great info on loan modifications and the Making Home Affordable program. I’m sure this is quite helpful to the many people in foreclosure trouble.

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» A Young Entrepreneur Learns About Business — Fri, 08 May 2009 04:23:56 +0000

[...] My Dollar Plan: Making Home Affordable Q & A [...]

By: Roman

Roman — Thu, 07 May 2009 05:20:24 +0000

Thank you, this information is very helpful.

By: Laura

Laura — Wed, 06 May 2009 15:16:12 +0000

Hi Madison,

Thank you so much for answering my questions in today’s article! I really appreciate this information as I have really been having trouble finding more specifics about the Home Affordable plan.

I am going to call IndyMac today to see if they will talk to me about a refinance or a modification. We’ll see how that goes…. But I am willing to be persistant so they won’t get rid of me easily.

I love your blog and read it daily. I have just recently become interested in personal finance and you blog always has such great information.

Thank you again,

Laura