RUMOR: Blanket Refinance

RUMOR: Rapid Refinance Loan Modification Plan to be Introduced in Congress


WASHINGTON, Sept 28 (Reuters) - As many as 30 million U.S. homeowners would be able to refinance their mortgage at record low interest rates regardless of their income, credit history or loan-to-value ratio under a plan to be unveiled on Tuesday by a Democratic lawmaker.

The legislation would allow for blanket 30-year, fixed-rate mortgages at the prevailing market rate, now around 4.3 percent, for anyone seeking to refinance a government-backed loan, Representative Dennis Cardoza told Reuters on Tuesday.

The plan would help a wide swath of borrowers and is much more comprehensive than the narrowly targeted efforts President Barack Obama has tried to date.

所有跟帖： 

• This is the same one as I sent out a few days ago -CALoanAgent- ♂ (131 bytes) () 09/28/2010 postreply 21:57:17

• that is great news for loans not own by Fannie or Freddy -jy101- ♂ (0 bytes) () 09/28/2010 postreply 21:59:37

• If so, will all loan agents / brokers lost all the jobs? -RE8888- ♂ (285 bytes) () 09/28/2010 postreply 22:29:16

• This is politics. Obama will try anything to win the -CALoanAgent- ♂ (272 bytes) () 09/28/2010 postreply 22:37:37

• Is it good news or bad news for loan agents? -CALoanAgent- ♂ (704 bytes) () 09/28/2010 postreply 22:43:36

• Yes, government sponsor program is always 30 year fix -RE8888- ♂ (388 bytes) () 09/28/2010 postreply 22:58:54

• what effect will this new policy have on the housing market? -doubledelight- ♀ (205 bytes) () 09/28/2010 postreply 23:04:26

• people are already in low rate. as long as -pediatrician2- ♂ (173 bytes) () 09/28/2010 postreply 23:30:33

• Agree. The job market is the determining factor. -doubledelight- ♀ (51 bytes) () 09/29/2010 postreply 00:33:46

• although I am benefiting from unltra low rate, -pediatrician2- ♂ (227 bytes) () 09/28/2010 postreply 23:12:37