HLS update on 105% refi’s without mortgage insurance…

[urbanrealtor]

Sheldon,
Has it occurred to you that the programs can be abbreviated “HAR” and “HAM”?

Just sayin’

Dan

[paramount]

I’m looking at the Refinance Program, although according to the Fannie Mae web site the refinance rates are currently 5.16%.

As for myself, I’m already at 5.1% fixed 30 years.

Still, resetting my loan back to 30 years will reduce my payments and once we get reassessed (with a fight I’m sure) it should drop our payments by $200/month.

I just want to break close to even (monthly) when I rent out our house.

The LTV is an issue though still to be addressed.

In California 105% LTV won’t be that helpful I suspect.

[paramount]

I’m looking at the Refinance Program, although according to the Fannie Mae web site the refinance rates are currently 5.16%.

As for myself, I’m already at 5.1% fixed 30 years.

Still, resetting my loan back to 30 years will reduce my payments and once we get reassessed (with a fight I’m sure) it should drop our payments by $200/month.

I just want to break close to even (monthly) when I rent out our house.

The LTV is an issue though still to be addressed.

In California 105% LTV won’t be that helpful I suspect.

[paramount]

I’m looking at the Refinance Program, although according to the Fannie Mae web site the refinance rates are currently 5.16%.

As for myself, I’m already at 5.1% fixed 30 years.

Still, resetting my loan back to 30 years will reduce my payments and once we get reassessed (with a fight I’m sure) it should drop our payments by $200/month.

I just want to break close to even (monthly) when I rent out our house.

The LTV is an issue though still to be addressed.

In California 105% LTV won’t be that helpful I suspect.

[paramount]

I’m looking at the Refinance Program, although according to the Fannie Mae web site the refinance rates are currently 5.16%.

As for myself, I’m already at 5.1% fixed 30 years.

Still, resetting my loan back to 30 years will reduce my payments and once we get reassessed (with a fight I’m sure) it should drop our payments by $200/month.

I just want to break close to even (monthly) when I rent out our house.

The LTV is an issue though still to be addressed.

In California 105% LTV won’t be that helpful I suspect.

[paramount]

I’m looking at the Refinance Program, although according to the Fannie Mae web site the refinance rates are currently 5.16%.

As for myself, I’m already at 5.1% fixed 30 years.

Still, resetting my loan back to 30 years will reduce my payments and once we get reassessed (with a fight I’m sure) it should drop our payments by $200/month.

I just want to break close to even (monthly) when I rent out our house.

The LTV is an issue though still to be addressed.

In California 105% LTV won’t be that helpful I suspect.

[donaldduckmoore]

80% of current value or purchase value?

[donaldduckmoore]

80% of current value or purchase value?

[donaldduckmoore]

80% of current value or purchase value?

[donaldduckmoore]

80% of current value or purchase value?

[donaldduckmoore]

80% of current value or purchase value?

[HLS]

[quote=AN]HLS, let me get this straight, they’re now letting us refi up to 105% LTV? If this rumor becomes reality.[/quote]

AN,, not just yet,,,

This is not a rumor. It is in the works.
It will allow some people to refinance across the country into a lower payment, allowing them to keep their (overpriced stucco box) house.

The exact terms, fees and rates have not been announced yet. Nothing is expected until early April, and it’s subject to change.

Welcome to OBAMAnation where nobody has to accept reality, just keep on pretending because it’s good for the economy.

I am totally against this program, even though I do stand to profit from it.
It will allow people to stay in their homes, even if the home is worth less that what they are financing.

For many people, the lower payment will be cheaper than renting on an after tax basis.
Because they need a place to live, it is the answer for many people.

Even without equity, they have a place to live. I call it renting with a tax deduction, except there is no landlord to call when something breaks.

The govt had to do something, and this program is probably the most intelligent thing that they have done in the last 24 months. It isn’t going to have an up front cost of hundreds of billions of dollars that went in to the hands of criminals and speculators.

Once this program kicks in, Chapter 2 will be kicking it up to 125% LTV. Chapter 3 will be 150% LTV. It will keep some people from walking away if the payments are affordable, regardless of what the house is worth.
For years people have made payments on cars that weren’t worth what they owed. Is there really a difference ? If there was a tax deduction on auto interest, people would drive more expensive cars.
I expect this to happen soon.

I’m against it because it keeps prices artificially high, but that is exactly what the govt wants. It punishes responsible people who have waited to buy.

I’m expecting another refi boom.
We need to wait and see what the rates and terms are, and if there are any gotcha’s… HLS

[HLS]

[quote=AN]HLS, let me get this straight, they’re now letting us refi up to 105% LTV? If this rumor becomes reality.[/quote]

AN,, not just yet,,,

This is not a rumor. It is in the works.
It will allow some people to refinance across the country into a lower payment, allowing them to keep their (overpriced stucco box) house.

The exact terms, fees and rates have not been announced yet. Nothing is expected until early April, and it’s subject to change.

Welcome to OBAMAnation where nobody has to accept reality, just keep on pretending because it’s good for the economy.

I am totally against this program, even though I do stand to profit from it.
It will allow people to stay in their homes, even if the home is worth less that what they are financing.

For many people, the lower payment will be cheaper than renting on an after tax basis.
Because they need a place to live, it is the answer for many people.

Even without equity, they have a place to live. I call it renting with a tax deduction, except there is no landlord to call when something breaks.

The govt had to do something, and this program is probably the most intelligent thing that they have done in the last 24 months. It isn’t going to have an up front cost of hundreds of billions of dollars that went in to the hands of criminals and speculators.

Once this program kicks in, Chapter 2 will be kicking it up to 125% LTV. Chapter 3 will be 150% LTV. It will keep some people from walking away if the payments are affordable, regardless of what the house is worth.
For years people have made payments on cars that weren’t worth what they owed. Is there really a difference ? If there was a tax deduction on auto interest, people would drive more expensive cars.
I expect this to happen soon.

I’m against it because it keeps prices artificially high, but that is exactly what the govt wants. It punishes responsible people who have waited to buy.

I’m expecting another refi boom.
We need to wait and see what the rates and terms are, and if there are any gotcha’s… HLS

[HLS]

[quote=AN]HLS, let me get this straight, they’re now letting us refi up to 105% LTV? If this rumor becomes reality.[/quote]

AN,, not just yet,,,

This is not a rumor. It is in the works.
It will allow some people to refinance across the country into a lower payment, allowing them to keep their (overpriced stucco box) house.

The exact terms, fees and rates have not been announced yet. Nothing is expected until early April, and it’s subject to change.

Welcome to OBAMAnation where nobody has to accept reality, just keep on pretending because it’s good for the economy.

I am totally against this program, even though I do stand to profit from it.
It will allow people to stay in their homes, even if the home is worth less that what they are financing.

For many people, the lower payment will be cheaper than renting on an after tax basis.
Because they need a place to live, it is the answer for many people.

Even without equity, they have a place to live. I call it renting with a tax deduction, except there is no landlord to call when something breaks.

The govt had to do something, and this program is probably the most intelligent thing that they have done in the last 24 months. It isn’t going to have an up front cost of hundreds of billions of dollars that went in to the hands of criminals and speculators.

Once this program kicks in, Chapter 2 will be kicking it up to 125% LTV. Chapter 3 will be 150% LTV. It will keep some people from walking away if the payments are affordable, regardless of what the house is worth.
For years people have made payments on cars that weren’t worth what they owed. Is there really a difference ? If there was a tax deduction on auto interest, people would drive more expensive cars.
I expect this to happen soon.

I’m against it because it keeps prices artificially high, but that is exactly what the govt wants. It punishes responsible people who have waited to buy.

I’m expecting another refi boom.
We need to wait and see what the rates and terms are, and if there are any gotcha’s… HLS

[HLS]

[quote=AN]HLS, let me get this straight, they’re now letting us refi up to 105% LTV? If this rumor becomes reality.[/quote]

AN,, not just yet,,,

This is not a rumor. It is in the works.
It will allow some people to refinance across the country into a lower payment, allowing them to keep their (overpriced stucco box) house.

The exact terms, fees and rates have not been announced yet. Nothing is expected until early April, and it’s subject to change.

Welcome to OBAMAnation where nobody has to accept reality, just keep on pretending because it’s good for the economy.

I am totally against this program, even though I do stand to profit from it.
It will allow people to stay in their homes, even if the home is worth less that what they are financing.

For many people, the lower payment will be cheaper than renting on an after tax basis.
Because they need a place to live, it is the answer for many people.

Even without equity, they have a place to live. I call it renting with a tax deduction, except there is no landlord to call when something breaks.

The govt had to do something, and this program is probably the most intelligent thing that they have done in the last 24 months. It isn’t going to have an up front cost of hundreds of billions of dollars that went in to the hands of criminals and speculators.

Once this program kicks in, Chapter 2 will be kicking it up to 125% LTV. Chapter 3 will be 150% LTV. It will keep some people from walking away if the payments are affordable, regardless of what the house is worth.
For years people have made payments on cars that weren’t worth what they owed. Is there really a difference ? If there was a tax deduction on auto interest, people would drive more expensive cars.
I expect this to happen soon.

I’m against it because it keeps prices artificially high, but that is exactly what the govt wants. It punishes responsible people who have waited to buy.

I’m expecting another refi boom.
We need to wait and see what the rates and terms are, and if there are any gotcha’s… HLS

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