Stock Market Thread

[WRXtranceformed]

Yah - are you sure you meant to say lowers principle there? I heard of allowing refinance for an underwater loan but I never heard of a lowering principle program. That's some commie bullshit.

Its right here. Principal Reduction Alternative.
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<!-- m --><a class="postlink" href="http://www.irs.gov/uac/Principal-Reduction-Alternative-Under-the-Home-Affordable-Modification-Program">http://www.irs.gov/uac/Principal-Reduct ... on-Program</a><!-- m -->

"You have a financial hardship and are either delinquent or in danger of falling behind."

Lee maybe not the best idea to post about your supercharged jaguar ,all your expensive watches, big retirement account, and golf vacations when you turn around and steal money from taxpayers and people who choose to pay for what they purchase.

Haha easy there Evan McLynchmob...financial hardship was not one of the requirements for whatever program I ended up in. They are so crazy in depth with documentation for loans now. Everything I submitted to the loan company was fine and if I remember right went through several layers of scrutiny and approval. In fact, I went back and looked and it was not the main HAMP or PRA program, those are actual loan modification programs that include a 3 year principal reduction period. Mine was not a loan modification it was an actual refinance program.
I believe mine was a Freddie Mac or Fannie Mae loan originally, which they created separate programs for. One helped out people who couldn't pay their mortgage and the other was for people who were just underwater. I remember I was extremely lucky on this point; the mortgage broker who wrote the deal (friend of mine and former JMU'er, one of the best / highest volume brokers in Charlotte) couldn't even refinance his own home because he didn't qualify for it due to his loan being owned by another company.

I like to do everything by the book buddy