mortgage refinance: Why Not Let People Who Are Underwater With Their Mortgage Refinance
- 04/08/11 06:55 AM
I have been asking myself this question for some time now and still cannot think of any reason, why banks can not let people who are underwater with their mortgage refinance their loan. I don't mean the people who cannot pay or are not paying their mortgage, I am talking about people who pay their mortgage every month, but would dearly love to refinance into today's low rates. According to a CNBC report currently 23% of all mortgages are underwater, so the potential for refinancing is quite considerable.
Now obviously there would have to be some restrictions, and rules.
1. The … (7 comments)
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I have been asking myself this question for some time now and still cannot think of any reason, why banks can not let people who are underwater with their mortgage refinance their loan. I don't mean the people who cannot pay or are not paying their mortgage, I am talking about people who pay their mortgage every month, but would dearly love to refinance into today's low rates. According to a CNBC report currently 23% of all mortgages are underwater, so the potential for refinancing is quite considerable.
;)
;)
;)
