Summary
President Obama flew to real estate-challenged Arizona last week to sign the massive stimulus bill designed to prevent our economy from continuing deterioration. In the last few weeks, I have written a couple of articles suggesting that responsible borrowers should be eligible to refinance their loans even if they don't have sufficient equity in the property.
Much of the stimulus plan is dedicated to bailing out borrowers who (for whatever reason) have a mortgage that they can't afford and are facing foreclosure. Some argue that these folks are victims of unscrupulous lending practices. Others maintain that a gun wasn't pointed at their heads when the papers were signed. I happen to believe the subprime mortgage market was a product of lenders who were happy to sell loans and borrowers who were happy to buy big houses.See the full content of this document
Extract
Excellent Credit Is Not Enough
There are millions of homeowners who have great credit, put 5 percent or 10 percent down and have verifiable
inco...See the full content of this document
Sponsored links
