HOW DOES OBAMA'S PLAN HELP WITH MY MORTGAGE ?

HOW DOES OBAMA'S PLAN HELP WITH MY MORTGAGE ? I am 6 years into a loan at 6.1/8 percent, 30 year fixed, on a property i payed 225.000 for. that is now only worth, 190.000 if i could even sell it now. i have always made my mortgage payments on time, and am not in default. i have been self employed for 2 years... show more HOW DOES OBAMA'S PLAN HELP WITH MY MORTGAGE ?
I am 6 years into a loan at 6.1/8 percent, 30 year fixed, on a property i payed 225.000 for. that is now only worth, 190.000 if i could even sell it now. i have always made my mortgage payments on time, and am not in default.
i have been self employed for 2 years now and i had to forgo some depts to stay on time with my mortgage, ruining my credit. How am i helped?
it seems i should let it got , then ask for assistance? but i cannot refinance, not with current employment and credit score. i cant tell if there is help for me? it seems there is help for peaple who took bad loans, flippers etc. it also seems that there is help for the vultures (new home buyers) to get a tax credit, as they steel property for deflated values. i like many americans have not defaulted, but are upside down, and struggling. pleanty of peaple did not go freddi or fanny, i have citi bank so, Who will help us?
Update: it has been suggested that my mortgage company MIGHT negotiate for the current market value, i do not belive this to be true..why whould they lose money? i am 6 years in, they have collected a lot of interset, why not let me default, resell and collect more?s tarting a new 30 year mortagage seems stupid, unless i... show more it has been suggested that my mortgage company MIGHT negotiate for the current market value, i do not belive this to be true..why whould they lose money? i am 6 years in, they have collected a lot of interset, why not let me default, resell and collect more?s tarting a new 30 year mortagage seems stupid, unless i am mistaken if they chose to negoitante at the fair market price, i would have to qualify to todays strict standard's and start a new 20 year loan, i have already payed 70.000 in monthly payments 35.000 was property tax, the rest ...interest and escrow ....money that is gone to the market downturn
i do not qualify anymore, haveing ruined my credit by paying my mortgage above all else
so they will say to me......you want a new loan?
how mutch do you make.....etc and if they are kind enough to qualify me, they will start me at 30 yrs.having robbed me, due to there own greed, killing the market
i am not alone, there is a lot of talk about freddie /fannie, what everyone else?
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