The Obama Plan (Part 2) – The Bad News

There are going to be all sorts of numbers initially about how many Florida homeowners “qualify” pursuant to the new Treasury Regulation to take part in Obama’s homeowner bailout.  If you don’t know already, if you are “upside down” by more than 5%, you don’t qualify as of right now.  For those homeowners who purchased in 2004 (the height of the housing boom), you won’t get in pursuant to this regulation.  Fortunately, there are other provisions that might allow you to qualify.  Here’s a quick summary.

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