Mar 07 2009
Obama’s Plan Is Not For You
Sure the President is attempting to reduce the amount of foreclosures, but in reality, none of these plans will have any affect on the falling property values and the foreclosure epidemic as a whole. Most people will not qualify for loan modification. Of those that do, most will be unable to pay their modified rate because the value of their home will still be way lower than the principal amount owed to the bank. Those that choose to file bankruptcy will take the chance that the bankruptcy court judge may reduce the principal owed to the bank, but most judges will choose not to do so and the borrower will be ruining their credit for at least 7 years from filing for bankruptcy. The only way to truly protect yourself from foreclosure is to learn how to use the judicial system and the foreclosure process to your advantage. Learn how to save your home at www.ForeclosureDefenseSecrets.com.
