Bloomberg did a reformatted version of questions and answers about Obama's housing plan released today by the U.S Treasury in Washington.
We hear a lot of reporters talk about Obama's housing plan. I suggest you read this so as not to confuse you with the opinions out there versus what's really happening.
It's good information. I'm sure you'll look like it. Enjoy.
Here are some excerpts:
"Question number two:
I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?
Answer: Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance."
You can read the rest of the article here:Obama housing plan
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