Refinance with 125% Loan-to-Value - Will it Help You? »
Posted By ChangeToday 4 months ago in News
Last week, President Obama announced a major change to the Making Home Affordable Refinance Plan. In the initial plan that came out in March, those with a 105% loan-to-value could refinance; not necessarily at the extremely low mortgage rates , but they could refinance. Now that the housing market does not seem to be getting much better, the refinance plan has been extended to 125% loan-to-value. You could be have 25% negative equity in your home and still have the opportunity to refinance. This has never been the case in the history of the United States housing market.
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ChangeToday
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calitennflo4 months ago
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Wonder how long it will take to take effect? Remeber the credit card charges? I recall the christmas of 2005, when the credit card companies suddenly raised the minimum payment...and after christmas...many mothers did not expect this...and ended up without their rent payments.
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