If you owe more than your home is worth and it has kept you from refinancing… good news, the race has just started!
The 125% Obama Refinance is now available because we have at least one lender will allow you to refinance under the Obama refinance plan up to 125% of your home’s value.
Keep in mind, even though the expansion to 125% was announced back in early July, lenders have been somewhat slow to adopt the plan as they had to make sure that everything was set up for it. This is not all that uncommon – many times the government will announce a program and then it won’t actually be available for months.
With so many people here in California owing more than their home is worth, the Obama 125% refinance option is a viable option for many, many people.
According to CNN:
More than one in five borrowers are now underwater, with homes in parts of California and Florida losing more than 50% of their value, according to Zillow.com, a real estate Web site. Some 20 million people own homes worth less than their mortgages.
Will the Obama 125% refinance option help everyone? No. But if you are current on your mortgage payments and have good credit, interest rates are at their lows again and now that lenders will actually do the Obama 125% refinance…
There has never been a better time to take advantage of the program.
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what lenders offer the 1st mortgage 125% refinance loan
thanks