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Democratic Home Mortgage Bill:
| Shared by Larry on Fri May 09, 2008 4:00 am | |
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On Thursday the House of Representative passed the Home Mortgage Bill to provide limited relief to the defaulted homeowners. The main provision of this bill is that FHA will guarantee up to $300 in refinanced home loan. Homeowner who have taken sub-prime mortgage and ARM but still shows now the ability to pay the refinanced loan will have reduced principal and converted their mortgage to 30 year FRM. This will help them to reduce monthly mortgage payments and avoid foreclosure. Source: http://www.wsws.org/articles/2008/may2008/hous-m09.shtml |
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• Mortgage Guide
• Mortgage Terminology
• Industry News
• Book Center
• Shop and Compare lenders
• 30 Yr. Fixed Vs. 5/1 ARM
Calculators [View all]
• Are you eligible for loan?
• How much you can afford?
• Calculate monthly payment
• Calculate APR
Financial Tools
• Credit Repair Tool

• Mortgage Planner
• Simple Budgeting Tool
Community Rewards
• Five simple ways to earn money with the Mortgage Community.

Explore the lender near you


