Obama Mortgage Relief For Unemployed?? (payment, state, employment, department)

[daniel60]

Hi There,
Can anyone point me to any info on the latest proposed help for unemployed with mortgages? Supposedly they are planning to lower payments to 31% or less of unemployment benefits for 3-6 months but I can't find anything concrete other than the various news announcements that Obama has proposed it. I'm 60 days past due on mine now and this would be an amazing help.

Any thoughts or pointers to other threads or info much appreciated.

Thanks,

Daniel.

[RBB]

I am current but unemployed for 9 months now and I need the short term break. They sent me a letter back saying I must contact the loss mitigation/collection department and that it must be done over the phone. The letter states they will need copies of paystubs, tax returns and unemployment verification. I have heard others say the bank tells them the plan is not in place yet, but that is not true. The banks are guaranteed $75 billion, (total), to cover any offsets due to unemployment.