Unfortunately, we’re probably in the minority here in supporting this.
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I support this also.
The people who need to lower their mortgage rates the most are those who for some reasons or another cannot refinance.
A good way to help the economy would be to automatically give the lowest fixed rates to homeowners who have been making their mortgage payments on time for the last 12 months.[/quote]
Will it cost more to finance/refinance people who are not underwater, and can go full doc’s, than it does for these newly rescued upside down borrowers who get weakened underwriting standards?
