http://www.governmentrefinanceassistance.com Helping American Homeowners Obtain Mortgage Relief Mon, 06 Sep 2010 07:58:06 -0400 hourly 1 http://wordpress.org/?v=3.0.1 http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/comment-page-1/#comment-278 Government Refinance Assistance Mon, 28 Jul 2008 05:30:14 +0000 http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/#comment-278 [...] There was a pretty good article over in the Wall Street Journal recently that looks at the issue of banks only participating in the new FHA backed short refi program voluntarily. We have already speculated on how this might play out. Here are some useful quotes from the recent WSJ article: For struggling U.S. homeowners, the success or failure of the program — which would let roughly 400,000 owners refinance into affordable, government-backed loans — depends largely on bankers’ willingness to take a partial loss on the loans and to reduce the amount of money borrowers owe. [...] [...] There was a pretty good article over in the Wall Street Journal recently that looks at the issue of banks only participating in the new FHA backed short refi program voluntarily. We have already speculated on how this might play out. Here are some useful quotes from the recent WSJ article: For struggling U.S. homeowners, the success or failure of the program — which would let roughly 400,000 owners refinance into affordable, government-backed loans — depends largely on bankers’ willingness to take a partial loss on the loans and to reduce the amount of money borrowers owe. [...]

]]> http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/comment-page-1/#comment-276 Government Refinance Assistance Sun, 20 Jul 2008 23:12:25 +0000 http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/#comment-276 [...] As we mentioned in an previous editorial, the wild card remains the lenders. In what situations would they be willing to go along with a HOPE loan? We suspect that the banks only would go for this kind of loan if they were absolutely convinced it was their least expensive alternative in an obvious foreclosure situation Posted by G.R.A. Admin on Sunday, July 20th, 2008 [...] [...] As we mentioned in an previous editorial, the wild card remains the lenders. In what situations would they be willing to go along with a HOPE loan? We suspect that the banks only would go for this kind of loan if they were absolutely convinced it was their least expensive alternative in an obvious foreclosure situation Posted by G.R.A. Admin on Sunday, July 20th, 2008 [...]

]]> http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/comment-page-1/#comment-272 Government Refinance Assistance Sun, 13 Jul 2008 23:55:40 +0000 http://www.governmentrefinanceassistance.com/editorial-predictions-on-how-the-new-short-refinance-program-will-work-in-practice/#comment-272 [...] The number thrown around is 400,000. That is the number of homeowners legislators hope the new housing bill will help avoid foreclosure on their homes. That is a pretty big number. But if more than 4 million homes are facing foreclosure as some forecasters predict in the next 18 months that 400,000 doesn’t sound so impressive anymore. We have written an editorial speculating on what it will take to be considered for the new “short refi” option that will become available via the FHA program. There was another editorial piece in the Wall Street Journal recently expressing further skepticism about the effectiveness of the new legislation. Here is an excerpt: Lawmakers can say they’ve “done something” about the crisis. The only problem is the bill won’t work. Contractual and incentive problems in securitized mortgages will defeat the legislation’s attempt to provide a significant amount of relief. [...] [...] The number thrown around is 400,000. That is the number of homeowners legislators hope the new housing bill will help avoid foreclosure on their homes. That is a pretty big number. But if more than 4 million homes are facing foreclosure as some forecasters predict in the next 18 months that 400,000 doesn’t sound so impressive anymore. We have written an editorial speculating on what it will take to be considered for the new “short refi” option that will become available via the FHA program. There was another editorial piece in the Wall Street Journal recently expressing further skepticism about the effectiveness of the new legislation. Here is an excerpt: Lawmakers can say they’ve “done something” about the crisis. The only problem is the bill won’t work. Contractual and incentive problems in securitized mortgages will defeat the legislation’s attempt to provide a significant amount of relief. [...]

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