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View Diary: 'We can't wait': Obama administration announces details of new rules for mortgage refinancing (110 comments)

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  •  So, for example, if what I owe on my loan is (1+ / 0-)
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    nailbender

    $128,000, but the county (or whoever) values it at $74,000  (it's probably worth less than that), the LTV on my loan is, ahem, GREATER than 80%.

    Sadly this is not a hypothetical. I'm so far under water that red, orange, yellow and green are but distant memories....  But I am current on my VA (not FHA) guaranteed mortgage, and am hoping I will be considered eligible to refinance.

    Spontaneous whinge - I'm part of the 99% who haven't gotten a raise in going on 6 years (promotions yes, but still no raises). I realized recently that I'm actually worse off than someone who's retired and living on a fixed income - at least there's some hope for them for a COLA increase. And here's a sad irony - the small work group I'm with is being moved to a new location for the sixth time in six years. The area we're moving to is kind of dingy and worn out (understatement). Someone wrote on the wall of my new cube "Skid Row."  

    Sigh.... I'm beginning to think the past 6 years are just practice for what lies ahead - and I mean that in the worst way.

    Now to find the right people to talk to.....

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