Here we go again!! Another stupid idea that has no chance for success! The downside would be catastrophic!!!
Mathews Realty Group
Government Officials Weigh New Refi Program
Read more at www.dsnews.com
Word on the street is that the Obama administration is sizing up a new program to shore up and stimulate the housing market by providing millions of homeowners with new, lower interest, lower payment mortgage loans.
According to multiple media outlets, the initiative would allow borrowers with mortgages backed by Fannie Mae and Freddie Mac to refinance at today’s near record-low interest rates, close to the 4 percent mark, even if they are in negative equity or have bad marks on their credit.