This might be the answer that will cause the current real estate market to level out. In fact, if the Government has their way, it might be the answer to those homeowners that are underwater. However, there are a lot of government programs that has missed their mark. Maybe this one will be different?
Home owners rejoice, refinance changes are coming, finally. Financing has been the toughest facet of the real estate market throughout the past few years. While certainly the Making Home Affordable program has helped many people around the nation, the process has proved to be slow and complicated, hardly representing the easy answer that the program was meant to provide.
Current low rates are tempting, but few can secure loans. Luckily it looks like this might change. Refinancing is meant to become a quicker process, intended to alleviate the debt felt by the many homeowners who are underwater on their home loans. The president is helping to fast track the expected changes. While many may think wow, it took long enough, any changes at this point are appreciated.
Apparently even the president is getting tired of everything being stalled. The biggest problem with real estate today stems with the inability for people to qualify for loans, particularly in refinancing situations. New measures will be taken in the near future to clear up some of this gridlock, reducing loan amounts and quickening the pace of the process.