Barack Hussein Obama, President, USAAs if the housing debacle couldn't get any worse, along comes the Commander in
2009-06-19: Obama’s Mortgage Program
June 19 (Bloomberg) -- President Barack Obama’s program to help more homeowners refinance may be expanded to include borrowers who owe more than 105 percent of their homes’ values, Federal Housing Finance Agency Director James Lockhart said.
The Obama administration is considering allowing Fannie Mae and Freddie Mac to refinance loans with current loan-to-value ratios of 125 percent or higher, Lockhart said at a National Association of Real Estate Editors Association conference in Washington yesterday.
1 comment:
Thanks Tyrone,
In the comments section on Denninger or CR, I noticed someone keyed in on an important point. They are considering 125% or Higher. Truly insane stuff we are dealing with. Barack may be a fine teleprompter reader, but an economist he is NOT.
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