Posted by nospam on February 10, 2009, 10:36 am
so many think that loans have been tightened up,
from Clark Howard website,
Feb 09, 2009 -- Refinance help for the self-employed and those with
bad credit
Fannie Mae -- which controls nearly half of the mortgages in the
country -- will launch a new program in April to help those who are
self-employed or have bad credit take advantage of the refinance
craze.
The Refi Plus program will waive the normal credit score requirement
for a refinance; it will have reduced documentation standards for
proof of income; and it will allow for computer-based appraisals,
which tend to inflate the value of a home and make it easier to
qualify for a refinance.
More people stand to be affected by these upcoming changes than the
entire number of people who have already gotten their refis!
However, Refi Plus will ultimately lead to higher defaults and more
foreclosures; it is, after all, a lessening of standards. But
apparently the "experts" aren't overly concerned. They're holding out
for the hope that the program will actually allow people who couldn't
make their mortgage every month to do so.
.........
I guess I'll let m' credit score drop so we can refinance our home
w/lower interest and my tax dollars <g>
---
Search - American Recovery and Reinvestment Act of 2009 - crazy I say
- http://tinyurl.com/kill401k - http://www.gunbanobama.com -
- leave my freedoms alone -
Posted by What me worry? on February 10, 2009, 11:10 am
On Tue, 10 Feb 2009 10:36:06 -0500, nospam@home.com backed into a tree
whilst ridin inna park then wrote:
>so many think that loans have been tightened up,
>from Clark Howard website,
>
>Feb 09, 2009 -- Refinance help for the self-employed and those with
>bad credit
>Fannie Mae -- which controls nearly half of the mortgages in the
>country -- will launch a new program in April to help those who are
>self-employed or have bad credit take advantage of the refinance
>craze.
>The Refi Plus program will waive the normal credit score requirement
>for a refinance; it will have reduced documentation standards for
>proof of income; and it will allow for computer-based appraisals,
>which tend to inflate the value of a home and make it easier to
>qualify for a refinance.
>More people stand to be affected by these upcoming changes than the
>entire number of people who have already gotten their refis!
>However, Refi Plus will ultimately lead to higher defaults and more
>foreclosures; it is, after all, a lessening of standards. But
>apparently the "experts" aren't overly concerned. They're holding out
>for the hope that the program will actually allow people who couldn't
>make their mortgage every month to do so.
>.........
>I guess I'll let m' credit score drop so we can refinance our home
>w/lower interest and my tax dollars <g>
>---
>Search - American Recovery and Reinvestment Act of 2009 - crazy I say
> - http://tinyurl.com/kill401k - http://www.gunbanobama.com -
> - leave my freedoms alone -
Dayum, wish I still had my place. Think I can get a no money down, no
job, 150% loan? I've seen some real bargains around here.
I guess they wouldn't go for a six pack of properties deal?
danl the It was just a thought Slug
Posted by nospam on February 10, 2009, 11:29 am
On Tue, 10 Feb 2009 11:10:47 -0500, What me worry?
>>
>>.........
>>
>>I guess I'll let m' credit score drop so we can refinance our home
>>w/lower interest and my tax dollars <g>
>>
>Dayum, wish I still had my place. Think I can get a no money down, no
>job, 150% loan? I've seen some real bargains around here.
>I guess they wouldn't go for a six pack of properties deal?
but but but, to top that there may be a bill that goes through that
will give a $15,000.00 tax break for purchase of a home, one with no
payback penalty
I'm selling my place just so I can take advantage of these purchase
breaks!
>danl the It was just a thought Slug
<g> meeeeeeeee Too
---
Search - American Recovery and Reinvestment Act of 2009 - crazy I say
- http://tinyurl.com/kill401k - http://www.gunbanobama.com -
- leave my freedoms alone -
Posted by nospam on February 10, 2009, 11:44 am
>> hell coupled with the 15k tax break, (if it goes through) this might
>> be a good time to sell and buy the home we really wanted!
>hmm, but i'm not self-employed and do not have bad credit??
well it is easy to fix that, quit and go 1099 with the company and
just miss one credit card payment, which should take care of the
credit score these days
<grin>
---
Search - American Recovery and Reinvestment Act of 2009 - crazy I say
- http://tinyurl.com/kill401k - http://www.gunbanobama.com -
- leave my freedoms alone -
Posted by Luca on February 10, 2009, 6:14 pm
> so many think that loans have been tightened up,
> from Clark Howard website,
> Feb 09, 2009 -- Refinance help for the self-employed and those with
> bad credit
> Fannie Mae -- which controls nearly half of the mortgages in the
> country -- will launch a new program in April to help those who are
> self-employed or have bad credit take advantage of the refinance
> craze.
> The Refi Plus program will waive the normal credit score requirement
> for a refinance; it will have reduced documentation standards for
> proof of income; and it will allow for computer-based appraisals,
> which tend to inflate the value of a home and make it easier to
> qualify for a refinance.
> More people stand to be affected by these upcoming changes than the
> entire number of people who have already gotten their refis!
> However, Refi Plus will ultimately lead to higher defaults and more
> foreclosures; it is, after all, a lessening of standards. But
> apparently the "experts" aren't overly concerned. They're holding out
> for the hope that the program will actually allow people who couldn't
> make their mortgage every month to do so.
> .........
> I guess I'll let m' credit score drop so we can refinance our home
> w/lower interest and my tax dollars <g>
> ---
> Search - American Recovery and Reinvestment Act of 2009 - crazy I say
> - http://tinyurl.com/kill401k - http://www.gunbanobama.com -
> - leave my freedoms alone -
I think the Government knows they are going to lose money on every deal but
in true bureacratic fashion they plan to make it up in volume! <SFSF>
I feel like such a dumbass for buy a house I could actually afford and
paying my bills on time... Jeesh!
Don
>
XML Sitemap
>from Clark Howard website,
>
>Feb 09, 2009 -- Refinance help for the self-employed and those with
>bad credit
>Fannie Mae -- which controls nearly half of the mortgages in the
>country -- will launch a new program in April to help those who are
>self-employed or have bad credit take advantage of the refinance
>craze.
>The Refi Plus program will waive the normal credit score requirement
>for a refinance; it will have reduced documentation standards for
>proof of income; and it will allow for computer-based appraisals,
>which tend to inflate the value of a home and make it easier to
>qualify for a refinance.
>More people stand to be affected by these upcoming changes than the
>entire number of people who have already gotten their refis!
>However, Refi Plus will ultimately lead to higher defaults and more
>foreclosures; it is, after all, a lessening of standards. But
>apparently the "experts" aren't overly concerned. They're holding out
>for the hope that the program will actually allow people who couldn't
>make their mortgage every month to do so.
>.........
>I guess I'll let m' credit score drop so we can refinance our home
>w/lower interest and my tax dollars <g>
>---
>Search - American Recovery and Reinvestment Act of 2009 - crazy I say
> - http://tinyurl.com/kill401k - http://www.gunbanobama.com -
> - leave my freedoms alone -