Question
why isn't the govt and banks helping the homeowners who are not missing their mortgage payments?
what is being done for the responsible homeowner who has lost half of the value of their property, but are still paying loans with high interest rates? why rescue the banks with our hard earned tax dollars and bail out the banks who are giving out large bonuses to their over paid workers?
6 months ago - 2 answers
Best Answer
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Good question! The Obama administration has done something for homeowners who are in good standing and who have lost their home value. A new policy has been passed that will allow homeowners to refinance their homes up to 105% of the loan amount. This policy will help millions of homeowners across the country to refinance to a better rate and better term. As of right now, mortgage interest rates are fairly low and allowing homeowners to refinance up to 105% will allow many homeowners to refi who previously couldn't because their loan amount was more than their home value. A good article explaining this policy can be found on the source website I used. The article is called "Obama’s Refinance Plan: What it Means for Your Mortgage" This new policy may not be a grand slam home run but its something!
Source(s)
by Sam
6 months ago
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Other Answers
"your creditably and integrity remains intact"
by Ambivalence- 6 months ago