Mortgage Forum
New Housing Bill Question
This is a topic titled New Housing Bill Question made in the Foreclosure News section, belongs to our Mortgages Debt News category; I have a couple of questions on the new housing bill that was passed. A couple of my friends had indicated that, depending on the lender, they will refinance your ...
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| Members List | Search | Today's Posts | Mark Read |
August 6th, 2008, 01:47 PM
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| Senior Member Registered: Apr 2008
Posts: 1,497
|  New Housing Bill Question I have a couple of questions on the new housing bill that was passed. A couple of my friends had indicated that, depending on the lender, they will refinance your loan based on what the current market value of your house is, you cannot have a second, the mortgage must be 31% of your income, and you have to be able to afford it. They say it will begin 10/1. Has anyone had any experience talking to their lenders? Mine is Indymac and they just modified my original loan - which means the loan amount exceeds the current market vaule of my house by over 250,000. I have a second though. Does that automatically disqualify me? |
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| Topic | Started By | Category | Replies | Last Post |
| New housing bill & 2nd mortgages | Mike | Foreclosure News | 0 | July 30th, 2008 09:38 AM |
| New Housing Bill Questions | Joel Fraser | Home Mortgage | 0 | July 28th, 2008 11:09 AM |
| Final Housing Bill Passes House, Bush to Sign into Law | Mike | Foreclosure News | 0 | July 23rd, 2008 04:35 PM |
| How Housing Prices Will Be Affected | SuzieQ | Home Mortgage | 0 | May 21st, 2008 04:25 PM |
| White House threatens the Federal Housing rescue bill | Mike | Foreclosure News | 0 | May 7th, 2008 11:38 AM |
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