News and notes from Reston (tm).

Friday, May 15, 2009

U.S. Treasury Secretary singlehandedly steps in to save Reston real estate market

610x.jpg.jpegHey now, who is that slob standing in the background, staring dumbly at the camera as the dapper man speaks at the podium? Why, that's U.S. Treasury Secretary Tim Geithner, listening intently as Reston resident Nicholas Tekpertey explains how the Treasury Department used some socialist magic called a "modification" to help keep him in his home instead of being foreclosed upon, which is the duty of every True Patriot.

In March, Tekpertey heard about the Home Affordable Modification from a friend, called his lender, faxed in his documents, and was qualified with relative ease. With this modification, he saves almost $600 per month and his payment is now affordable, with an annual total savings of $7,154.

“In February, I was facing foreclosure,” Tekpertey said. “Making Home Affordable changed my situation, and gave me my home back. All homeowners who are worried about their mortgage payments should do what I did. Go to the website like I did. See if you qualify. This program is real, and this program works.”
It's clear from this story that Reston is so awesome and special that the full faith of the U.S. government is now backing the value of every home in our community. So go ahead and put your place on the market back at 2006 prices and wait for the offers to come rolling in!

4 comments:

  1. It's not that hard to pull the rabbit out of the 'empty' hat. It's paying for the upkeep of the rabbit in the future that creates the dilemma.

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  2. The Convict in Gulag 4May 15, 2009 at 10:47 PM

    Wow. The amount of money he saves on his govt sponsored bail out is only a wee bit less than my total mortgage. No kidding, folks. Of course, ten years ago, I bought a small th in the Gulag instead of an SF in North Reston like Mrs. Convict wanted. But I thought that's all I could reasonably afford at the time. Fast forward to now and, guess what! the govt is practically giving away homes.

    I guess that's what I get for being stupid enough to live within my means. (Note to self, the next time the mortgage officer says that you can afford 2.5 times what you're thinking of buying with a no-doc, interest only ARM, take him up on it instead of insisting on the 30-year fixed mortgage.)

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  3. Why wasn't I more financially irresponsable? I could be living in a big, fancy house instead of having my kids keeping each other up all night sharing a bedroom. What was I thinking??

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  4. maybe you need us to help you in your mod. call me 540-656-2798

    ReplyDelete

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