Help on the Way for Underwater Home Owners?
A bill introduced in the Senate aims to remove barriers for underwater home owners looking to refinance. “The Helping Responsible Homeowners Act” would order Fannie Mae and Freddie Mac to waive fees and remove barriers that are keeping underwater borrowers from refinancing to lower mortgage rates.
The bill, authored by Sen. Barbara Boxer, D-Calif., has gained more momentum in Congress after Sen. Johnny Isakson, R-Ga., who ran one of the nation’s largest real estate brokerages, also signed on to sponsor it.
“The time to help struggling home owners is now while interest rates remain at near-historic lows,” Boxer says. “This legislation would help millions of responsible home owners who are making their payments, but are still struggling to make ends meet. By helping these home owners refinance at lower rates, we will put thousands of dollars back in the pockets of families and strengthen our economy.”
Source: “Underwater Home Owners Refinancing Bill Gains Momentum,” Housing Predictor (July 15, 2011)
New York Real Estate Access | Your Access To Every Home On The MLS!
* Instant access to all MLS listings
* Receive future email updates of new listings they day they hit the market!
* Save listings, searches, email friends, and more...
Start Searching For Homes Today!
Tayeb Realty Group | Real Estate Professionals
Search for Homes!
- March 2012 (24)
- February 2012 (12)
- January 2012 (2)
- October 2011 (1)
- July 2011 (12)
- June 2011 (8)
- April 2011 (9)
- March 2011 (6)
- February 2011 (15)
- January 2011 (28)
- December 2010 (18)
- November 2010 (18)
- October 2010 (21)
- September 2010 (21)
- August 2010 (20)
- June 2010 (32)
- May 2010 (27)
- April 2010 (50)
- March 2010 (33)
- February 2010 (41)
- January 2010 (33)
- December 2009 (39)
- November 2009 (15)
- October 2009 (4)
Error: Twitter did not respond. Please wait a few minutes and refresh this page.
- $8000 credit (TARP) 30-year mortgage rates 2009 NAR Profile of Home Buyers and Sellers adjustable rate mortgage (ARM) American housing market an energy-improvement mortgage (EIM) Appraisal Atlanta average interest rate Bank-owned properties Bank of America Corp. bank or lender Bank repossessions Basement Remodel Beacon Economics Bedroom Remodel Ben Bernanke better house better resale value beyond. Some believe VOWs could also pave the way for a comprehensive Multiple Listing Service Bloomberg News borrower borrowers borrow more Broker brokerage listings Build-to-suit commercial real estate credit credit report credit score economic recovery existing-home sales Federal Housing Administration FHA FHA loans First-time home buyers First-Time Home Buyer Tax Credit fixed-rate mortgage foreclosure Foreclosures home buyer tax credit home owners Homeownership home prices home sales Home Values housing market interest rates IRS loan mortgage mortgage applications Mortgage Bankers Association mortgage payment Mortgage Rates mortgages NAR National Association of Realtors new york real estate office space properties property values real estate real estate market real estate news real estate trends REALTORS refinancing Remodeling Short Sale tax credit Tax Incentives value of home