Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (625884)	8/25/2011 8:32:37 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) of 1578510

Al, > Do you even know what's being considered ? According to the articles I've read, borrowers will be able to refinance and get lower interest rates regardless of financial status or whether they are underwater. This way, they can take advantage of lower interest rates without needing any equity in their now-depreciated homes. Ideally that should reduce the risk of foreclosure and give borrowers a little more money to spend every month. This is not something that the banks will agree to without the backing of the government, though. Otherwise who would agree to a refinance if the value of the home can only secure part of the mortgage? What's your point? That this is actually a good plan? I'm not so sure since it doesn't do anything to help deleverage real estate. Tenchusatsu

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