tag:blogger.com,1999:blog-44361384226721526752011-07-07T23:43:45.235-07:00Failed Loan Modifications -- Americans Tell Their StoriesHalonethttp://www.blogger.com/profile/16419923376929085585noreply@blogger.comBlogger11100tag:blogger.com,1999:blog-4436138422672152675.post-45787170867916177432009-08-07T16:37:00.001-07:002009-08-07T18:34:50.719-07:00I applied for the Obama Loan Modification and found out that I did not quality even though my house payment is 55% of my net salary. My mortgage payment is already at 31% of my gross. I'm supposed to afford all of my other expenses on 45%of my net. How did I get into this mess?<br /><br />My title company and realtor misrepresented my mortgage payment by under $350 a months because they did not figure in the proper amount of escrow for real estate taxes. I had no recourse under title insurance to sue them because they made a mistake. I got stuck with the elevated payments. The second salvo is rapidly shrinking home values in California. We cannot sue the realtors for that either.<br /><br />I figure there are many stories out there that are not being told. I've written to President Obama twice and have not heard a word. I thought if we collect all of our stories on this blog, he cannot ignore us and he will change the requirements.<br /><br />For one thing, for homeowners in distress they should be figuring the 31% on the net not the gross. We are taxed to the max. Politicians are trying to grow the economy through taxes while taxing us to death.<br /><br />Post your letter. The more letters, the better. Make sure you post a way to contact you so the letter appears valid and not just a spam.<br /><br />If you would rather email me directly: kissphotographics@yahoo.com<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/4436138422672152675-4578717086791617743?l=obamaloanmod.blogspot.com' alt='' /></div>Halonethttp://www.blogger.com/profile/16419923376929085585noreply@blogger.com0