Will Changes to Loan Refinancing Help?

The Wall St. Journal via Marketwatch reports that the Obama administration is planning to loosen up on HARP its program encouraging refinancing for underwater homeowners. Currently, the program is virtually worthless as it is way too limited and restricted, but why won’t Obama force all loans to be refinanced on demand to a new fixed rate 30 year term at current rates? That would actually help people hold onto their homes.

As always, if you are in trouble with your mortgage, call me at 201-289-5352.

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