August 25th, 2011 6:30 PM by Eric Fang
Two years ago, some mortgage industry experts proposed to have everyone to be able to refinance to the lowest rate, no matter how much is the LTV. But no one adopts this idea. So that's one of the topics I shared with some of my clients, for the entertainment only.
Now, Obama Adminstration is trying some proposoals to help the borrowers, especially those who are underwater, will be able to refinance. How about this proposal? Maybe that's the best one they can adopt. But there are a lot of details need to be worked. Which investors whould be interested in those bonds? Maybe government can hold them for a few years.
See the link for the details.