Make Home Affordable

Mar 05, 2009 15:41

So, I was reading on bankrate about the new "Make Home Affordable" program ( Read more... )

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Comments 5

randomcub March 5 2009, 21:41:01 UTC
Yeah, 2% would be awfully sweet. I could afford to make improvements! Or to pay ahead on the loan and pay it off early! I could put in central a/c or geothermal heating/cooling!

Alas, I'm stuck at 6.something percent. . .

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spiritquest March 5 2009, 22:44:03 UTC
Heh. Would you really pay ahead on the loan though? Probably not. :-)

Do the math out, just to check it, just to see if maybe you do qualify. You'll actually spend it (maybe making the home improvements, maybe not), so I'd love to see you get the money.

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This Should Not Stand walterwz March 5 2009, 21:46:10 UTC
If some people are eligible for a 2 percent rate and others are not, this is intrinsically unfair. If this condition persists there will be significant negative blow back.

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Re: This Should Not Stand spiritquest March 5 2009, 22:37:28 UTC
I'm not sure I'd go that far to say that its always intrinsically unfair to charge different people different interest rates ( ... )

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Re: This Should Not Stand walterwz March 5 2009, 23:17:17 UTC
Not a spender here. I have been living within my means pretty much since the breakup of my last relationship in 1999. I came out of that relationship with about 10,000 in credit card debt. That has been paid off. Anything that I have ever bought on credit with the exception of cars, has been paid off well ahead of time.

Back in 2005 I was laid off from what seemed to be a decent, well paying stable job. Although I have been working at the same company ever since I feel my position and the status of the company are marginal. I work 50 to 60 hours. Commute 2 hours. I have an excellent resume. Job openings for web developers in southern NH, listed in Monster.com went from the average of 300 to 2.

Until this job situation changes I will save every dollar I can.

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