Real estate blog entries tagged with interest rates by Gail Clark & Associates

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Home : Blogs : Gail Clark : Gail Clark's Blog : Tag "interest rates"

interest rates: Too Little AND Too Late? - 08/31/07 08:19 PM

Bush has rolled out a plan to supposedly help adjustable rate mortgage holders who face foreclosure. It is an option to refinance into an FHASecure loan. Seriously, let's be real about this. Who and how many people is this really going to help?
FHASecure program will require 3% equity in order to refinance. The homeowner may refinance delinquent payments but the loan refinance amount can not exceed more than 97% of the appraised value. How many of these people have 3% equity in their home? None? Okay maybe a few, but certainly not many by comparison to the volume of … (1 comments)

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Gail Clark

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August 2007 (2)

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