The Latest on the Stimulus Plan…Help On the Way?

Posted on February 10, 2009
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Well, it looks like the latest stimulus plan will be officially passed any day now. Although I’m not sure that they are aware of it, taxpayers have already paid $250-billion towards the previously passed stimulous plan.

Here is an article breaking down where the funds will most likely be allocated:

Now if your a homeowner struggling with your financial situation, you will see that there’s really nothing in this plan that will be allocated towards homeowners in distress. The  Secretary of the Treasury Timothy Geithner is supposed to roll out his plan this week on the best way to tackle the foreclosure crisis and whether or not money will be dedicated to home loan modifications. There’s approximately $395-billion that he has to work with…but there are a lot of parties trying to make a case on what to do with the money. Various media outlets are speculating a portion of the money will be given to banks to make sure they continue to lend money to small businesses and homeowners who are still able to refinance. Regardless, the foreclosure issue will be addressed and an action plan will be proposed.

Although I’d like to think he has the magic pill to pull the economy out of this rut, it will still take time. So if your a struggling homeowner wondering what to do next, don’t wait to try to resolve your situation. There’s millions of homeowners just like you who are having a hard time making their mortgage payment. If you haven’t already, call your bank to see what you can do to get an affordable payment. We are having a lot of success modifying loans for homeowners in every type of hardship situation, late on their mortgage or not. The key is to start the process and get in line because there are a lot of other homeowners ahead of you. Research your options but don’t let it keep you from taking action. I know I’m repeating myself here but be sure to call your bank mortgage lender today!!

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