Tom Lindmark

Fannie and Freddie's Unbelievable Proposals

If someone is current on their mortgage and demonstrates the ability to remain current what difference does it make whether or not they are underwater from a valuation point. You would seem to suggest that they be denied the ability to take advantage of a lower rate even though that action would further ensure their ability to service their debt. Denying them the opportunity to refinance is akin to cutting off your nose to spite your face.