Posted on: 04th Feb, 2009 11:17 pm
With the mortgage crisis at hand and properties losing value , I wanted to take advantage of a lower interest rate, but due to the A6 law and the 80% LTV Law, I cannot refi to a lower interest rate. My house appraisal came back lower which means that I would need to go to 90% LTV, but since my house is in Texas I cannot refi unless I bring plenty of cash to the table.
Does anyone know if Texas is going to relax or modify the 80% LTV rule and make it higher like all the other states have it. Texas is the only state with the A6 and 80% LTV law. So, people like me cannot take advantage of lower interest rates.
Thanks
Does anyone know if Texas is going to relax or modify the 80% LTV rule and make it higher like all the other states have it. Texas is the only state with the A6 and 80% LTV law. So, people like me cannot take advantage of lower interest rates.
Thanks