Obama refinance program?

Posted on Oct 23, 2012 in HARP Refinance

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obama refinance program
by planspark

Question by (A+): Obama refinance program?
I called the bank for help and they keep hanging up on me.Who do I call to report them so they will help defaulted Americans?

Best answer:

Answer by Rapture
Did you call the bank and ask them about the Obama Refinance Program?
No such thing.

If have a job that can support payments, price you might qualify for re-financing.
Banks know to do this.
Do you have sufficient salary to pay back a mortgage?
If it’s a lost case – a bank will not help you
Do you have enough equity in the home?

Know better? Leave your own answer in the comments!

4 Comments

  1. call another bank.

  2. There isn’t an “Obama Refinance” program. There’s a loan modification program; however, banks aren’t required to offer modifications. A refinance and a modification are two different programs. There isn’t anyone to call and report the bank to… they aren’t required to refinance or modify your loan. Good luck to you.

  3. They are under NO legal obligation to “help defaulted Americans”. The program that you mention only offers lenders incentives to modify loans, but DOES NOT force them to do anything for you. Sorry, but your ONLY entitlement in this situation is to adhere to the terms of the mortgage note that YOU agreed to.

  4. LOL
    Did you actually call the bank and ask them for the Obama refi program? Maybe that is why they are hanging up on you. They probably have no idea what you are talking about or think you are prank calling them. LOL There is NO “Obama refi program” that your lender HAS TO adhere to or honor for you or any other defaulted homeowner.

    Instead of calling the lender and quoting some bogus line some radio or TV commercial has, ask for their *loss mitigation department* and then inquire about your mortgage and how to refi or get it back on track to avoid foreclosure. Leave the phrase “Obama refi program” out of your discussion, because you will just sound uneducated. You have to meet certain requirements though to qualify, and not everyones house is going to be saved from the auction block.

    There isn’t really anyone you can call to complain and be taken seriously.