Monday, August 29, 2011

Feds Considering Helping Underwater Homeowners Refinance

This week we bring you news about aid for troubled homeowners and Bank of America foreclosing on people who’d either paid their loans on time or early.Refinancing: The New York Times reports that the Obama Administration is considering a refinancing program to help homeowners whose loan balances exceed their home values. The Times report U.S. homeowners owe $700 billion more than what their homes are worth. Bankrate’s Mortgages Blog says 70% of all mortgage applications in the first half of the eyar were from homeowners wanting to refinance.

Read the rest of the article at LoanSafe.org

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