Discussing the serious ramifications of the House “Cramdown” mortgage bill. This bill is the vehicle to pass bankruptcy cramdown which will allow bankruptcy judges to modify the terms of residential mortgages. In turn, this will increase interest rates for all homebuyers as lenders increase rates to price for this risk.
There’s a local bank that comes on the radio saying they have NO sub prime mortgages. Is it better banking with those kinds of banks?
Recorded at the Mises Institute Supporters Summit, The Gold Standard Revisited, 31 October 2008; Auburn, Alabama. Includes introductions by Mark Thornton and Lew Rockwell, and the presentation of the 2008 George F. Koether Free-Market Writing Award to Judge Andrew Napolitano.
We owe on our 1st mortgage is $52,000 at 6.25%, and our HELOC is $105,000 at 8.19%. Fixed. The estimated value of the house is between $110,000. to $150,000. I want to combine and lower my interest rate, but if that is not possible, how can I lower my HELOC. I would at least like to lower my $730.00 interest on the HELOC. What are my options if any? Thanks!
www.MortgageAllianceTeam.com – Buy Refinance + Improvements – Gretchen Casey discusses purchasing or refinancing a home + obtaining additional funds needed to also include renovations.