With all the excitement surrounding the new proposed help for underwater and unemployed homeowners, some leaders are saying “beware”. To give you an example, a new article has been released by Dean Baker, Economist and Co-Director of the Center for Economic and Policy Research, which concludes that the new Obama Loan Modification Plan will continue to fall short of what is necessary to help those in need and that it is really designed to benefit the big banks! As you read, you’ll see Dean Baker is basically saying that home prices will continue to fall, so doing a loan modification will basically leave up-side down homeowners in a position of paying too much money for an asset that will be worth even less in a year than it is today. Check out the article by clicking on the link below and call me if you have any questions: http://www.democracynow.org/2010/3/29/economist_dean_baker_banks_could_be
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