Home Affordable Refinance INTRO
Below is the link to Fannie Mae’s New Home Affordable Refinance Program that came out today. This will allow borrowers to refinance up to 105% Looks pretty agressive but we are waiting on further details. It looks as though there will be no adjustments to rate for high fico borrowers. We will know more in…
Below is the link to Fannie Mae’s New Home Affordable Refinance Program that came out today. This will allow borrowers to refinance up to 105%
Looks pretty agressive but we are waiting on further details. It looks as though there will be no adjustments to rate for high fico borrowers. We will know more in the upcoming days.
Take a look
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0904.pdf
It’s only for owner occupied properties hannible. Not for investors. This is a good thing. This will keep millions of people in their homes and give other millions lower monthly payments which will allow them to breathe a little easier every month, and maybe start spending again, which in turn stimultates the economy.
I hate it with a pashion. It does nothing but keep real estate prices at inflated levels for the joy of real estate brokers and speculative homebuyers. The only good thing about this plan is that you have to live in the property you are seeking financial help. If you are a speculator and overcharging you poor renter extortion rates just so you could pay your morgage then get ready to forclose because rents are coming down and they are going to come down even further. Greed Greed. Greed
Thanks Adam! Not sure if this will really apply to very many of us BK homeowners though. At least not yet…
http://finance.yahoo.com/news/Meltdown-101-Will-Obamas-apf-14547200.html