- Banned
- #1
Obamas proposal to help homeowners that are current on their payments yet upside down may have a chance to refinance to the lower rate of 4%. Thus lowering their payments and creating more equity in the long run as well as putting extra cash in their pockets. Assessments are dissalowed and the program is not mandatory. This direct type of stimulus would actually have an impact in the economy as a whole and not just a targeted sector.
I for one think this is a good idea that "could" help our strugling housing market. Kudos
Banks are resistant because it would mean possible loss of expected revenue of 2% or more.
I see no way this voluntary program could be considered the usual govt intrusion. It is an attempt to help not only good honest homeowners but also spark a struggling market. Not only that but this could help many other facets of the housing industry like remodeling or just simply put extra money into a weak economy in other areas through the savings it will provide the consumer.
Now help to disprove the lockstep thought of the left on here that we all care about Obamas failure more than helping the people, by either thanking this post or responding in kind.
PS. Im well aware that many of you will consider this an attempt to buy favor of the population before an election. But regardless of motive the results could be positive as long as Freddie and Fanny are closely watched.
http://www.nytimes.com/2011/08/25/b...k-mortgage-refinancing-for-millions.html?_r=1
I for one think this is a good idea that "could" help our strugling housing market. Kudos
Banks are resistant because it would mean possible loss of expected revenue of 2% or more.
I see no way this voluntary program could be considered the usual govt intrusion. It is an attempt to help not only good honest homeowners but also spark a struggling market. Not only that but this could help many other facets of the housing industry like remodeling or just simply put extra money into a weak economy in other areas through the savings it will provide the consumer.
Now help to disprove the lockstep thought of the left on here that we all care about Obamas failure more than helping the people, by either thanking this post or responding in kind.
PS. Im well aware that many of you will consider this an attempt to buy favor of the population before an election. But regardless of motive the results could be positive as long as Freddie and Fanny are closely watched.
http://www.nytimes.com/2011/08/25/b...k-mortgage-refinancing-for-millions.html?_r=1
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