Jul 5 2009

Underwater Mortgages: HUD Announces Eligibility for up to 125 Percent Loan to Value. Why This is Smoke and Mirrors Financial Theatre.

Only a few days ago HUD Secretary Shaun Donovan announced that mortgages with a 125 percent loan to value would now be eligible for the Home Affordable Refinance Program.  I received a few e-mails from readers dismayed about this announcement since it would be troubling for the government to simply buy mortgages that are severely [...]

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