Family weighs refinancing options in Lawrence area
The Malsburys refinanced at Landmark National Bank after a year of considering a new loan as rates fell to 4s and 5s. Lenders report high refinance volume with many approvals, but issues like property appraisals and high loan to value raise insurance and qualification concerns. ARMs discouraged by borrowers and lenders amid stricter credit and appraisal standards.
MENTIONED IN THIS ARTICLE
Jason
Dorothy Malsbury
Lawrence
Malsburys
Landmark National Bank
Iowa
Malsbury
Brian McFall
Capital City
N.H
Deb Drummer
McFall
Drummer
Obama housing plan helps underwater borrowers nationwide
The plan aims to aid up to 4 million homeowners through loan modifications and up to 0.5 million via refinances, with eligibility criteria including loan date, property value limits, and lender cooperation. California Florida Nevada Arizona have the highest shares of underwater homes, while Moody's Economy.com puts nearly 14 million borrowers overvalued.
Mortgage relief plan aims to aid millions in refinancing
The Making Home Affordable program seeks to help up to 9 million borrowers qualify for affordable fixed rate loans and stay in their homes. It targets homeowners with loans held by Fannie Mae or Freddie Mac, requires primary residence status, income sufficiency, and debt not exceeding 105 percent of home value, with applications open until June 2010.
MENTIONED IN THIS ARTICLE
Papa Leyrer
Heritage National Mortgage
Randville
Mich
Fannie Mae
Freddie Mac
Fannie
Freddie
U.S
Las Vegas
Barack Obama
Obama
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KS Health Foundation
Ridge Court
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Fourth Freedom Foundation
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Institute For International Peace Studies
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