Housing Blogs
housing, mortgages…
RSS | Visita nuestra web 
- Just $300 Billion? Are You Sure About That?
-
This past week, the House approved the much talked about $300 Billion Mortgage Bailout Bill. Specifically, it plans to “will expand the FHA (Federal Housing Administration) program so that borrowers in danger of losing their homes can refinance into lower-cost, government-insured mortgages.”How would this work? “For a homeowner to get a new FHA-backed loan, the holder of the current mortgage would have to accept a loss and take a payment totaling no more than 85 percent of the home’s [current] value.”…
Original Source
-
10 May, 2008| housingblogs |
@ 14:58