my position is that if somebody is in farking Phoenix, and they owe 160% of what the house is worth, even if they lied on their mortgage app, or they have a FICO score of 12 now because they have stopped paying every other bill they have, their debt to income ratio is 96% after they pay their mortgage leaving them $17 per month for food and gas, they should be allowed to refi at 4% or lower, fixed. If they want to exclude investment property ok, but for primary residence, to put a stop to the housing crisis that is what is required, it won't cost the govt hardly anything, these people are trying to hang on, they haven't walked yet, they are currently paying MORE than they would in a refi.
This Obama plan reminds me of something the Bush admin would do, showering money on their corporate donors like banks and leaving the real problem to be borne by mom and pop. And you know thats about the worst thing I can say about anything govt does, that it is like Bush! |
