Calling all lovers of mortgage refinancing
As he spoke to the press, he made it clear that one of the aims of the housing relief plan is to help responsible consumers who are having difficulty making payments on their mortgage loans or are in danger of foreclosing, as well as help stem decreasing property values. Even homeowners who are not in danger of foreclosure have been affected by declining home values. One survey by Zillow demonstrated that of every six people who ownstheir homes, one is now in a situation of owning a home worth less than the mortgage on that home. The company approximates that in 2008 the housing sector lost $3. 3 trillion.