Daily Mortgage Rates News – 125% Loan-to-Value Refinance

Posted on | July 1, 2009 | No Comments

I am still going through my resources to get the entire mortgage bailout package expansion.  For now, please check out this link as it explains a good deal of what you will want to know.  Basically, President Obama has expanded the Making Home Affordable Refinance Program to allow those who have up to 25% negative equity in their home a chance to refinance.  Prior to today, only a 105% loan-to-value was allowed to apply for a refinance.  Remember, this is only for mortgages that are backed by Fannie and Freddie.  Much more to come on this…….

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