Posted on: 21st Sep, 2010 03:10 pm
anyone having success finding a lender who is actually participating in the short refinance option??? we have called a huge number of lenders in our area and all are telling us that they are opting out of this program. wouldn't it benefit lenders to participate in this program and offer it to those of us who qualify rather than lose thousands when we have to walk away from our mortgage?! property values within one block of us are $100,000 less than they were 3 years ago. jobs are still being lost. who exactly determines that the recession is over anyway?! from my view, we are still on a long rope trying to pull ourselves out of a depression!
Hi MNMom!
Welcome to forums!
As far as I know, the short refinance program will help the lenders in recovering a part of their dues. However, there are a large number of lenders who may not offer this program. It is completely the lender's discretion whether or not he would participate in this program.
As far as recession is concerned, it's over officially but the after affects will remain for a long period of time and it may create certain problems for us.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, the short refinance program will help the lenders in recovering a part of their dues. However, there are a large number of lenders who may not offer this program. It is completely the lender's discretion whether or not he would participate in this program.
As far as recession is concerned, it's over officially but the after affects will remain for a long period of time and it may create certain problems for us.
Feel free to ask if you've further queries.
Sussane
Are you talking about the Hope for Homeowners program?
