Wondering what's next for the housing market? Well here's the next trick in the lineup. Bill 170 in the Senate (S170) is setup to allow homeowners who own more in their mortgages than the home is worth, to refinance at todays lower interest rates. This plan is regardless of the homes market value. But, they must be current with their payments and the mortgages must be a Freddie Mac or Fannie Mae. This might help a lot of those in the Tampa Real Estate market, but I wonder how do they get the banks to agree with the cuts to their interest income? and what's it going to cost the tax payers? No one seems interested in the cost of things anymore.
To read more of my rants about the Tampa Bay Area visit some of my other blogs.
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