I just finished calling IngDirect's Home Retention Program(Loan Modification), 1-888-464-6118 .
Scenario: Borrower has a Home Equity Line of Credit at 7% and balance of $59,000.
Issue: Called IngDirect to try to reduce interest rate.
IngDirect says NO. They only work with mortgages not Equity Lines as they are not "mortgage" but personal credit.
Again, another point of the confusion and unclear information out there. I think there are a lot of people in similar situations, and so I believe this will lead to more defautls in credit -whether personal or mortgage credit.
Wednesday, April 29, 2009
Wednesday, April 15, 2009
The Tax Tea Parties are not just for conservatives. It is for the average work is labors to put food on their tables.
Today tax filing deadline day is Tax Tea Parties protesting ever increasing burden of our taxes.
I don't understand how NBC and the San Francisco Chronicle( see excerpt below) can call this a protest "whipped up by conservative commentators."
This is not anti Obama, or would it have been anti Bush. This is coming from people like me who is tired of the Bailouts and tax credits,favors, payoffs to corporations like Banks, Insurance company when we are losing our homes, our state taxes gave gone way up and every piece of bread, milk and car registration has gone up and up.
Enough. Let's modify our tax code. The Tax code is really full employment for tax attorneys, scam artists, preparers and accounts.
I am a tax preparer and often I end giving up my services to help people who have to file and cannot even afford the $35 filing fee I charge.
"Thousands rally with 'tea parties' on tax day
By JOE BIESK, Associated Press Writer
Wednesday, April 15, 2009
17:21 PDT ATLANTA, (AP) --
Whipped up by conservative commentators and bloggers, tens of thousands of protesters staged "tea parties" around the country Wednesday to tap into the collective angst stirred up by a bad economy, government spending and bailouts. The rallies were directed at President Barack Obama's new administration on a symbolic day: the deadline to file income taxes. Protesters even threw what appeared to be a box of tea bags toward the White House, causing a brief lockdown at the compound.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/04/15/national/a080019D17.DTL&hw=tax+revolt&sn=001&sc=1000
I don't understand how NBC and the San Francisco Chronicle( see excerpt below) can call this a protest "whipped up by conservative commentators."
This is not anti Obama, or would it have been anti Bush. This is coming from people like me who is tired of the Bailouts and tax credits,favors, payoffs to corporations like Banks, Insurance company when we are losing our homes, our state taxes gave gone way up and every piece of bread, milk and car registration has gone up and up.
Enough. Let's modify our tax code. The Tax code is really full employment for tax attorneys, scam artists, preparers and accounts.
I am a tax preparer and often I end giving up my services to help people who have to file and cannot even afford the $35 filing fee I charge.
"Thousands rally with 'tea parties' on tax day
By JOE BIESK, Associated Press Writer
Wednesday, April 15, 2009
17:21 PDT ATLANTA, (AP) --
Whipped up by conservative commentators and bloggers, tens of thousands of protesters staged "tea parties" around the country Wednesday to tap into the collective angst stirred up by a bad economy, government spending and bailouts. The rallies were directed at President Barack Obama's new administration on a symbolic day: the deadline to file income taxes. Protesters even threw what appeared to be a box of tea bags toward the White House, causing a brief lockdown at the compound.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/04/15/national/a080019D17.DTL&hw=tax+revolt&sn=001&sc=1000
Sunday, April 12, 2009
I sound like a broker record...But is anyone listening?
I am beginning to feel that my postings are all the same. But the truth is that although the stories are similar the human beings behind are real. The mother, father, sister, brother, child, grandparent, spouse are real.
Just 4/12/2009 two more individuals told me their stories on the problems they are having dealing with the Banks:
Case I: Cannot refinance through Wells Fargo. Richmond, CA
Facts: Male, married, credit score over 700, not late on any mortgage payment. He has an adjustable loan with Wachovia who is now owned by Wells Fargo.
Storey: He has been trying to refinance to a fix rate. It has been over 6 months and the answer is always "give us more paperwork." The result is that he cannot finance because the price of his house has gone down by 30%, and therefore, there is not enough equity in the house.
Wells Fargo will NOT cancel principal, will not defer principal. I gave him the Acorn and HOPE numbers a few weeks ago, and he doesn't seem too hopeful that they can help. In a few weeks he will decide if he stops making payments.
Case II: Again, cannot refinance through Wells Fargo, San Jose, CA
Facts: Female, married, not late on any mortgate payment. Has a good interest rate (around 5.9), but is beginning to have problems making the payments after her husband was laidoff from work.
Story: She's connacted Wells Fargo and the bank tells her that they cannot refinance due to her ratios and because is not late that she cannot work a loan modification.
Just 4/12/2009 two more individuals told me their stories on the problems they are having dealing with the Banks:
Case I: Cannot refinance through Wells Fargo. Richmond, CA
Facts: Male, married, credit score over 700, not late on any mortgage payment. He has an adjustable loan with Wachovia who is now owned by Wells Fargo.
Storey: He has been trying to refinance to a fix rate. It has been over 6 months and the answer is always "give us more paperwork." The result is that he cannot finance because the price of his house has gone down by 30%, and therefore, there is not enough equity in the house.
Wells Fargo will NOT cancel principal, will not defer principal. I gave him the Acorn and HOPE numbers a few weeks ago, and he doesn't seem too hopeful that they can help. In a few weeks he will decide if he stops making payments.
Case II: Again, cannot refinance through Wells Fargo, San Jose, CA
Facts: Female, married, not late on any mortgate payment. Has a good interest rate (around 5.9), but is beginning to have problems making the payments after her husband was laidoff from work.
Story: She's connacted Wells Fargo and the bank tells her that they cannot refinance due to her ratios and because is not late that she cannot work a loan modification.
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