Check slide 9 out of 10. It says that the single mother RE agent in Modesto is eligable for a refi of her 400k loan when the house is worth 250k. (she paid 465k, and got a loan for 400kish, so it isnt a massive DP bringing down the loan amount). I thought you had to be no more than 105% LTV to get refied. Isnt she 160% LTV? Is that refiable under the new obama plan?
And I dont feel sorry for people who bought million dollar houses in 2007. I dont feel sorry for people who bought million dollar houses at all, but especially for ones who bought them in 2007 when it was really obvious what was going on.
And his “offer” is total BS.
