
07-01-2009, 12:23 PM
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Banned
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Join Date: Nov 2003
Location: Middle Of Nowhere,
USA
Cobra Make, Engine: ERA 428 FE 4-speed CR "TL" heavy spline
Posts: 3,907
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Not Ranked
Obama Expands Loan-to-Value Ratio to 125% for Refinance Program
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.
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