Any Thing To Keep Your Home
Any Thing To Keep Your Home
http://news.yahoo.com/s/nm/20090701/bs_nm/us_financial_housing
The Obama administration has been working relentlessly to help home owners refinance their mortgages. Towards this end, mortgage finance companies Fannie Mae and Freddie Mac will now refinance up to 125% of the home value, up from the earlier 105%. This is the loan to value ratio.
The trauma of being homeless or having to share a home with somebody else can be long lasting. Hence efforts aimed at preventing this should be lauded.
The economic downturn started with the upheaval in the housing market and the recovery path will also start from here. Preventing foreclosures is the first step on that path.
