Obama Mortgage Explained. There has been a lot of press on what many people call the Obama Mortgage. But what IS an Obama Mortgage and who is eligible? In early 2. 00. 9, the Obama administration announced a program called Making Home Affordable. This program is expected to help nine million homeowners keep their homes and avoid foreclosure through refinancing and modified loans designed to lower monthly mortgage payments. The Obama mortgage is not part of the Hope for Homeowners program started in 2. Making Home Affordable does offer hope for homeowners in need of mortgage rescue, but there are specific conditions for the program. Do you wish to apply for refinancing under Making Home Affordable? You must be current on your mortgage payments. Those who hope to take advantage of programs under a 2. But the loan guarantee program came under scrutiny Wednesday from Republicans and Democrats at a House oversight. In addition to the loan guarantee program, the Obama administration has. Washington Post reporters.
To qualify for an Obama Mortgage you must not have been more than 3. Your home must be your primary residence. For those in need of homeowner. The Home Affordable refinance program. You will need all information about your current loan, any second mortgage plus other lines of credit like credit cards or personal loans. This advice also applies to FHA HECM loans. FHA Condo Loan Rules. There are many different types of FHA loans available for borrowers who want more options than a typical suburban home. Many types of properties may be purchased with an FHA insured mortgage, including manufactured homes, multi- family units, and condominiums. Details on the FHA 2. Rehab Mortgage. The 2. FHA guaranteed loan for rehab homes. This loan is for those who want to live on the property to be improved as the primary residence, it's not meant for landlords or investors. Can I Refinance an FHA HECM Loan? Home Equity Conversion Mortgages or FHA HECM loans for short, are for borrowers aged 6. President Obama believes the best ideas usually come from the front lines. That’s why in 2009 he launched the SAVE Award (Securing Americans Value and Efficiency), seeking ideas from Federal employees to make government more. How Obama plans to save Medicare However, the specifics of that proposal don't spring to mind as easily as the reforms being bandied about in Republican circles, such as providing seniors with vouchers to pay for premiums or raising the retirement age. The president did little more than touch on these plans on the campaign trail last year and again in last month's State of the Union address. Paul Ryan is expected to release his budget, which will update the GOP's proposals to rein in health care spending on the elderly, on Tuesday. All told, his reforms would cut health care spending by $4. White House. This would save $1. Reduce payments for post- hospital care: Bring payments for skilled nursing and rehabilitation facilities, long- term care hospitals and home health care more in line with costs. Reduce payments to facilities with high rates of hospital readmission. Reduce payments to rehab centers for certain conditions, such as knee replacements and hip fractures, so they are more comparable with skilled nursing homes. Make sure centers are treating patients with greater need. This would save $5. How Obama's Program Can Save Your Home? President Obama wants to save your home and has developed a $75 Billion Homeowner Affordability and Stability Plan to do just. Making Home Affordable Program: Will the Obama. What is the Making Home Affordable Program? The Obama administration started this program in early. Related: Home health care aides: Fastest growing job, but it pays poorly. Raise premiums on the wealthy and charge new enrollees more: Increase premiums for drug coverage and doctor's visits for high- income seniors by 1. New beneficiaries enrolling in 2. Part B, which covers doctors' visits, lab tests and medical supplies such as wheelchairs. New enrollees would also be responsible for a $1. New enrollees who buy certain comprehensive Medigap supplemental policies would also pay a 3. Part B premiums. All told, these additions would raise $3. Reduce payments to providers for unpaid debt: Lower coverage of providers' bad debts to 2. This would save $3. But he has yet to outline what those provisions might be. So the fight over entitlement reform is not even close to being over.
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