Remodeling Maidiac
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- #21
Well... I would support if banks offered this as a form of relief in hard times... they will still make their money on the loan.. more-so than reselling after a foreclosure...
BUT... I would not support this being govt funded... or banks being forced to make such an offer... govt has no business doing such a thing
Then you support it as it isn't government funded and banks aren't being forced to participate. Rather, they are being given more options in allowing their mortgagees to refinance.
Who is giving the banks more options in allowing mortgagees to refinance?
From my limited understanding the mortgages that are backed by freddie and fannie are the ones in question. Meaning I presume that freddie and fannie will relax previous agreements?