mortgagebacked securities: Potentially vs Realistically
- 09/14/10 12:25 AM
The Associated Press, on Wednesday, released more information about the new FHA program to help homeowners who owe more than their home is worth. "The new program takes a different approach. It allows investors in mortgage-backed securities to evaluate their holdings and select borrowers who will be offered refinanced mortgages guaranteed by the FHA." Potentially this is a great program that will help everyone. Realistically I think it will mirror the government's mortgage relief program. More people dropped out of the program than were helped. I anticipate mounds of red tape and borrowers to get gouged on the rate and fees. Why should they bother to
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