Chris Tucker Is In Florida Mortgage Hell

[Snickford]

Yeah, with no major traffic tieups it's about an hour and twenty minutes into Manhattan.

[iBoots]

wow, Snickford, that's like most of California...folks with 3 hour daily commutes. I live near Pleasanton, California where I take the BART into San Francisco each day and it takes an hour. Throw in my 20 minute drive to the station and the walking time to my office in the city, that's a very long day

[Snickford]

I've never been to California but have heard the trush traffic is horrible. Is the commute time the result of distance or congestion? I couldn't do a commute like that, that's just too much time on the road for me. If I was forced to work in a city that far away from my home, I'd have to move closer. I have great compassion and respect for people who do that drive every day. I'll be thinking about you Monday morning iBoots...

[PatR]

Snickford, I lived in Los Angeles up until two years ago and I will tell you all the secret: Live in Valley and WORK in the Valley

[siggy]

I worked in Woodland Hills a few years back and damn, that is hot as hades in that part of the valley. My car was parked outside and I had a plastic bottle start melting in my car it got so hot in there during the day

[Luck Be A Lady]

A cousin of mine about an hour away in Toledo just got a sweetheart mortgage restructuring deal with Obama's modificiation program. They are very happy with it. I'll be back with details

[Yankee Doodle]

Luck Be A Lady, Obama's modification program had to work for some people despite the wickedly bad press it got. Congrats to your coz

[Tracy Aqua]

I heard on CNBC that 14% of all mortgages are in foreclosure or are delinquent. 14 friggin percent!!!!

[Snickford]

I receive a mod. through the Obama program. It helped us in the fact that it reduced out interest rate for 5 years, but then it creaps back up to where it was eventually. It really is just a temporary relief but the biggest problem I had was what it did to our credit. We saw the problem coming (lost our jobs and took lower paying jobs) and went to the bank trying to be proactive. We were not late paying anything, yet. When we entered into the trial period of the program, the plan requires the mortgage holder to report the total amount due on the mortgage as "delinquent amount". WOW! Not only did that hammer our score, but once our other creditors caught a glimps of that, everybody raised our interest rates (again, never late on any payments) and capped our credit amounts to $100 more than we owed. Of course, that sent our score plumiting because now our debit to credit ratio's were over 90% and our minimum payments skyrocketed due to the high interest rates. I even had one creditor jack the rate up to 25% and close my account. I had that account, in great standing, for over 10 years.

Once the trial period of the mod was over, everything went back to normal with our mortgage credit reporting but the damage was already done. Our credit scores dropped by over 100 points. No delinquencies, just the credit to debit ratios. The goal now is to get all those accounts paid off and never, ever get caught in that situation again. I'll probably keep the accounts open but unless I can pay with cash, I'm not buying it. I'm really pissed at the creditors for kicking us when we were down. They're not getting any more of my money, ever.

[Limitless]

Credit agencies hold your life in their hands and their ways and methodologies are as murky as the Hudson River