I Don’t Get It
I got an email press release the other day trumpeting, among other things, the following:
Fannie Mae will allow borrowers to refinance up to 120% of their home value if they are currently paying their mortgages on time.
‘This is a huge positive development for responsible homeowners who are faithfully making their payments, but simply find themselves in a negative equity situation due to declining real estate values,’….
Isn’t it deals like this that got so many homeowners in financial trouble. It’s a bad move.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
Cheers to trustworthy journalism!
Give just $7/mo to get your KaiPA glass.