the bill president bush just signed for home mortgage refinancing?
by Mortgage Rates on Saturday, November 27th, 2010 | 3 Comments
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What bill ?
its the hope bill or something like that … if your mortgage is more than 38% of your monthly income, the govt will help you renegotiate your loan to lower your payments. go to http://www.hud.gov or the hud website ….
Nothing benefits the consumer in this bill. Sure you will be able to stay in your home at a reduced monthly payment and have your mortgage at 40 or even 50 years. Banks win on this one. If you sell after 10 years you will still owe a substantial amount of money for your loan.