Skip to content

Obama proposed solutions to Homeowners that are under water on their mortgage

March 25, 2012

Obama has proposed to Congress a bill that would do the following:
*Allow homeowners, who are current in their payments, to refinance their mortgages at current low rates with minimal red tape
*Must be current for the past 6 months
*Have a FICO score of 580 or better
*Have a loan that is no bigger than the FHA conforming rates for your area
*Loan must be for a single family residence, owner occupied
*Loan to value ratio of 140 or less
Hope this info helps if you’re struggling with your mortgage & I’ll keep you all posted if this passes Congress!

Advertisements

From → Homeowners

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: