I am trying to keep my house and am filing 13. What is everyone's thoughts on the latest Obama's mortgage relief package that is in the Senate? We were hoping for the judge to be able to modify our mortgage to lower our monthly payments as we haven't had much luck with our lender. I understand that it hasn't been passed yet. Any thoughts on the likelihood of it getting passed so that I could take advantage of it? Any advice or thoughts would be appreciated. This is all so new to me and am freaking out and worried all the time. Can't sleep, etc. I hate this!
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It is completely impossible to guess the likelihood of this bill making it to the President. A version has passed the House, but is stuck in the Senate. Essentially, the bill hasn't even made it to a vote in the Senate as yet and is still in committee because a few Senators who were expected to support the bill have begun witholding support and demanding bank friendly modifications to the bill which means they don't have the 60 votes needed to get it to a vote and avoid a fillibuster. If it makes it to the Senate floor it may pass, if it makes it to the President he is expected to sign. Problem is the bill isn't even expected to have any further action until after the Senate returns from the Easter recess (late April) so even if it happens we've got a while to wait. What can you do? Call and email your Senators and encourage their support of the bill, ask everyone you know to do the same. Encourage them to take action before the Easter recess. Go to www.nacba.org to get more information and find a link to email your Senator.
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