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I would say that yes, there is some good coming from the plan.
kktlaw Tue Mar 31, 2009
Our President has brought to implementation more life-changing programs for millions of Americans than could be listed in this diary. OK, he did not do this alone. But under his leadership, I don't believe there has ever been a President who has changed the scope of America (for the better) in such a short time. Yes, he really can walk and chew gum at the same time, much to the Repugs' chagrin.
I want to share with y'all how these programs are working already. And they are working for people I know, including myself, in life-changing ways.
My friend Paula is a high school Spanish teacher in a large Southern California school district. She has been in this position for seven years and is highly regarded by her students and her administrators. At the end of February, she (and many of her colleagues) were called into a meeting where they learned that, due to state budget cuts, they would no longer have a job next September. The old "pink slip" day.
Paula was devastated. She is a single mom of two little girls. She saved for years and two years ago finally bought a condo overlooking a park for her girls. There are simply no teaching jobs to be had in So.Cal. because of these state-wide cuts. She didn't know where to turn.
Then, last Friday, Paula was called into another meeting, and learned that, because of President Obama's American Recovery and Reinvestment Act, better known as the "stimulus package", Paula and all her colleagues will keep their teaching jobs. The billions of dollars of funds being pumped into California have already been allotted, and her district learned it would be able to keep all its teachers, and will even be able to hire some desperately needed ESL teachers and special education teachers.
One of my favorite neighbors, Bob, has been unemployed for over a year. He has over thirty years experience in health care administration, human resources, and hospital management. The last hospital group he was with merged with another chain and his job was eliminated. After months of networking, resume sending, and interviewing, he got a part-time "consultant" position at an L.A. health care group. He loved the job, but knew it was temporary, and since it was for only a few hours a week, it wasn't enough to sustain his large family. The owner of this Hispanic-owned non profit organization had applied to receive direct funds from the stimulus package. (The company provides free health care clinics in under-privileged areas as well as home care resources and pharmacy services to low-income populations.)
The owner had told Bob that if these funds were received, Bob would become a valuable full-time employee. Just this past week, the company received confirmation of the ARRA funds. Bob was hired into a position he already knew and already enjoyed!
Many of you know my own situation. I'm a lawyer who had a large income until I became ill with an autoimmune disease. The disease causes dizziness and falls, and lo and behold, I had a doozey of a fall last year, causing eleven major surgeries within one year, eight months in a physical rehab center (nursing home), two near-fatal staph infections, and permanent disability. Through all this, I became unable to make payments on my house that I have owned for fourteen years, never missing a payment until eight months after the accident. Prior to last week, my mortgage holder, Wachovia, had no interest in refinancing, restructuring, nor even negotiating, even though I persisted for months.
But last week, Obama's "Mortgage Relief Plan" hit the fan. I had been watching carefully when Wachovia would begin implementing it, and I called the very next day. Their attitude for the past few months has been, kind of, "Stop calling us, you scumbag. We're not going to help you. We just want your house, and you have __ days until we evict you and then we get your house."
BUT, when I went there in person last week, with all my paperwork, the website information, and a copy of the mandate by which Wachovia is abiding, the tone was quite different. It was "How can we be of service to you?" Heh, I love a good Federal mandate, don't you?
I'm still not clear on the details of my new loan. I know it will meet the requirements of the Mortgage Relief Plan, discussed here and here. From my limited research, it appears all big mortgage companies are obeying the mandate by offering the same programs. I plan to write a diary detailing my experience when I get through the escrow period, with a list of other banks offering the same program. For now, by going on the website's FAQ's you can learn the "meat" of this program.
President Obama's mortgage plan has enabled me to keep my home, where my kids grew up, and which I have owned for more than fourteen years. The ARRA program has saved important teaching jobs and provided talented leadership like Bob's new position in the non-profit health sector. I will be forever grateful to our President for saving my house and giving my dear friends their much-deserved jobs. I just keep thinking how I would already be out in the street if McCain had won. I don't like to go there, but sometimes I can't help it.
I know this is just the beginning. I believe we will be hearing plenty other stories like this in the coming days and weeks. (Yes, DAYS and WEEKS, not months and years.)
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