Thursday, July 2, 2009

Mortgage Refinance up to 125%

The Obama administration has enhanced their refinance program to now allow refinances up to 125% of the home's value. Prior to this, the limit was only 105% of the home's value. Because home value have decreased entensively in a lot of areas, this will allow a lot of homeowners that currently owe up to 125% of their home's value to refinance their current loans into a product with a better rate. This will ultimately make it more affordable for them to own their home and hopefully not have to go into foreclosure. Read more

1 comment:

  1. Buying a house changes your life. There are many people out there to help first time homebuyers get a home mortgage. It is an exciting time; enjoy this new experience.