Key Features of the New Housing Rescue Plan The government’s newest housing rescue effort, which was announced Friday, includes these key tenets:·As much as $14 billion of the Troubled Asset Relief Program (TARP) will be made available to pay for writing down second liens for loans whose borrowers refinance through the Federal Housing Administration.·Lenders that facilitate refinances through the FHA will be required to write down the principal of the first mortgage by at least 10 percent so the home owner has a loan-to-value ratio no higher than 97.75 percent.·Lenders of second liens will be offered incentives of 10 cents to 21 cents per dollar of principal they write down in connection with an FHA refinance.·Borrowers who lose their jobs can apply to have their mortgage payments reduced for three to six months while they search for a new job.·Borrowers with a payment still greater than 31 percent of income after they find a job will be considered for a permanent loan modification.·To encourage more short sales and “deed in lieu†of foreclosure transactions in which the lender settles the loan for less than is owed, the government will double assistance to borrowers to $3,000 and increase incentives to subordinate lien holders and investors to $6,000.

On top of that, he recently informed me that my inheritance will be in the form of advice, encouragement and brow beating :lol: - everything else goes the charities of his choice.

Thanks again for the guidance and encouragement BP community.

No, I am not encouraging an act of violence here.Apparently, there is this place that opened in China called by that name.

Our local superior court is always encouraging people to use mediation and arbitration as an alternative to clogging their overcrowded schedules.

I can understand what you're saying, I would love to be able to landscape how I want, but I do know there are also people that could care less about the outside of their properties, and with other available homes here in this small town running a lot less, we really want to keep the area nice to encourage people to build here.

I just wanted to encourage you to pose any questions here on the forum so others can also see the results.

:-(any words of encouragement or advice out there for me?

Nick - I can't speak for our PRO members, but I can say that I encourage you to get in touch with those people that are checking you or your blog or your listings out.

Scott - There are plenty of great teachers/mentors out there, and BiggerPockets certainly encourages our members to seek out and find those that are reputable and knowledgeable.