Obama Expands Loan-to-Value Ratio to 125% for Refinance Program
http://www.examiner.com/x-13480-Phoe...25-loantovalue
Today the US Treasury Department announced an update to allow refinancing of mortgages backed by Fannie Mae and Freddie Mac up to a first lein position of 125% of the home’s appraisal value. This is a level that was previously set at 105% loan to value.
I cannot image going for a 125% loan to value. Our Federal Government must run a really more than passingly strange set of books.