Refinance at Your Own Risk »

Posted By ChangeToday 5 months, 1 week ago in News

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President Obama continues to offer amazing opportunities for those who want to refinance. He recently extended the Making Home Affordable Refinance Plan to 125% loan-to-value. This is almost unheard of as you can have a large amount of negative equity in your home and still have the opportunity to refinance. The problem I see with this is that mortgage lenders are going to be very discretionary with who they offer low rates to. I would be willing to bet that if you have 125% loan-to-value on your current mortgage, your refinance rate will be NOTHING close to those low advertised rates of 5% and under.