The White House is reportedly mulling an idea to let homeowners with government-backed mortgages...

The White House is reportedly mulling an idea to let homeowners with government-backed mortgages refinance them at today’s lower rates of about 4%. The move could boost the economy by saving borrowers an estimated $85B a year, but may face oppostition from regulators and investors in bonds tied to the loans.
Comments (5)
  • enigmaman
    , contributor
    Comments (2869) | Send Message
    A simple mortgage rate modification is all thats needed, modify the note rate, owner signs, record and done. No getting Fannie and Freddie to agree thats another story because it hurts their bottom line which is already under water
    25 Aug 2011, 01:23 PM Reply Like
    , contributor
    Comments (5) | Send Message
    All ideas are fine,but push one button up another comes down, why not do the right thing, allow X amount of foreigners to obtain a green card with the purchase of property and the amount needed for each purchase is proportonial to the cities needs. The green card comes with a moratorium for taxes for X years. At the end of the X years the person can opt to remain or leave the green card, no question asked. Nothing like sales and the notion that the market is moving up to create an upswing
    25 Aug 2011, 08:32 PM Reply Like
  • Magones
    , contributor
    Comments (2) | Send Message
    I work here on a visa and would definitely purchase a home here if I would be given a green card as a result. Sounds like a superb idea.
    31 Aug 2011, 05:53 PM Reply Like
  • socalcouple
    , contributor
    Comments (5) | Send Message
    Allowing green cards for real estate purchase would be a triple whammo on the American middleclass. What countries are you guys from anyways?
    31 Aug 2011, 09:07 PM Reply Like
  • dkonline
    , contributor
    Comments (2) | Send Message
    What happens to REITs that hold Fannie and Freddy paper if many refi at a lower rate? I would assume their income could be hurt which would translate into much lower dividends. Possibly why NLY is down >3% today.
    Ha anybody seen an analysis comparing effect on various REITs?
    1 Sep 2011, 01:27 PM Reply Like
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