Monthly Archives: October 2011

Refinance plan to harm mortgage investments: Independent Financial Advice

New “no equity” refinance plan will hurt mortgage backed bonds and will not solve housing crisis     The Wall Street Journal published a story Sunday night 10-23-2011 that the Federal Housing Finance Agency will have Fannie Mae and Freddie Mac offer refinance loans to borrowers with no appraisals and no limit on the loan to value ratio. This will allow people with negative equity to get a refinance loan. This may save consumers $24 Billion a year, which will also save the government from tax refunds for mortgage interest expense.

2017-01-10T23:30:53-08:00 October 23rd, 2011|mayflowercapital blog|Comments Off on Refinance plan to harm mortgage investments: Independent Financial Advice