underwater: Underwater Refinances - NO Change - 11/16/11 06:04 AM
Underwater Refinances - NO Change
After all the hype about the changes coming for those whose mortgages were underwater - with Fannie Mae and Freddie Mac's revisions on rewriting mortgages the details have been released.  There is NO Change!
Basically, what they did in issuing their new guidelins was to put things off until March 2012.  Until then the LTV maximum is still going to be limited to 125%.  (If you can find any lenders who will go that high - most are limitting to 105%)
Actually, there are two changes that take effect.  The first is that Fannie Mae is … (7 comments)

underwater: Tips for the Upside Down Homeowner - 03/28/11 07:40 AM
Tips for the Upside-Down Homeowner
Are you concerned that you or someone you know may be upside-down with your home's value versus your mortgage balance? Many people are battling this problem with their homes. There are plenty of tips and options that may help you financially and emotionally as you go through this trying time.
One of the easiest ways to see your way through this downturn is just to ride it out. If you have a job, are able to make your mortgage payments, and are able to wait out the current economic freefall, then why worry? The market will … (4 comments)