Reply #6: when I got my loan modification under the Obama initiative

[bigtree]

. . .it got 'me and my family' off the hook. I really didn't care who I had to throttle to keep my home. The disconnect from the folks who were able to benefit from these modest reforms and assistance is stunning among critics of the WH initiatives.

I'm all for alternatives, if they are realistic and attainable. I really don't get the criticism for these programs which actually make a real and meaningful difference in folks' lives.

I was one of the fortunate ones to get a permanent loan modification offer under the president's plan - Got through trial period without a snag and got a reduced loan payment.

Made three monthly payments under the trial period got the okay for a permanent modification.

The interest rate dropped from 6.5% to 2.25% for 5 years then rising every year for three years to 4.875% in 2017. All of it amounts to about $300 less a month, brings my account current, and wipes out all of the late charges. Thanks to President Obama.