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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!

From → Homeowners

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