Why isn't Congress or anyone addressing one of the main issues regarding refinancing? Everyone is concentrating on helping people overcome the foreclosure problems. People that shouldn't have gotten approved for loans from the get go..and now have bad credit and are being driven to walk away from their mortgages, these are the people our government want to bail out.
I haven't heard any discussions or solutions for the people who have good credit, pay their mortgages on time, but yet the banks are not willing to help them in refinancing to save their homes. They want these customers to add additional thousands of dollars to be able to refinance their mortgage because of the loan to ratio issue. Why would anyone want to add more money to property that is already loosing money?
Anyone agree with me?