Refinancing Aid Will Boost Malibu Market

by ritasimpson on February 1, 2012

in Money Talk

Obama’s bid to help borrowers current on their mortgages refinance their homes will be a boost to the entire economy.

While mortgage rates have tumbled to their lowest levels on record, many borrowers haven’t been able to qualify either because their homes lost value or they lost income. However with this plan a credit score of 580 and a loan amount below $729,750 and proof of employment wold be sufficient to secure the loan. homeowners deeply underwater would be eligible for a write down on their loans.

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