Mortgage Refinance Program Extended
The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value.
The Obama administration effort, known as Home Affordable Refinance Program, had been scheduled to end on June 10 but will now run out on June 30, 2011, the Federal Housing Finance Agency said Monday.The program allows borrowers who owe up to 25% more than their homes are worth to refinance to lower interest rates.It was originally projected to help 4 million to 5 million homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac. So far, it has helped around 220,000, according to the Treasury Department.
Let me know if you are interested in refinancing and I can get you to a qualified lender who can help with this.sr
Sales Graph for 2006 to 2009
Who says prices have not come down. Sellers need to realistic when pricing thier homes. Our average price continues to come down and we are back to where were were in 2006.
2009 Report - Click for a larger Image
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Home Price Trends
