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who will benefit by this?

Published:

Last Edited: August 25, 2011, 11:02 am

Obviously the homeowner will benefit from a lower rate once qualified.

Looking at the other side of the coin. They say millions will refinance under this plan. With new and existing mortgage financing in a slump cuts into income on banks and mortgage originators fees. With millions refinancing and the cost of refinancing a mortgage will create a big cash flow in refinancing fees.

What are the cost of refinancing? take 10 million refinancing x say 2 to $4,000.00 each adds up to what in the money pipeline. Would take quite some time to process that many refis. Steady cash flow HUH.

http://www.boston.com/realestate/news/blogs/renow/2011/08/desperate_times.html

Entry #1,581

Comments

1.
JAP69Comment by JAP69 - August 25, 2011, 11:12 am
Who is looking out for who here.
Another thing I just thought of is when a loan is originated mortgage or otherwise the majority of interest to principal paid on a monthly payment is the interest amount at the start of your repayment term.
2.
sully16Comment by sully16 - August 25, 2011, 11:59 am
More redistribution of wealth, the government will take tax payers money, pay for the refinancing of freddie and fannie loans, hence another bailout, people who can't afford these homes, will lose them anyway, won't matter how its refinanced, the loans are for more than the house is worth, you can't love like the beverly hillbillys on a walmart hillbillys income, pure and simple.
3.
JAP69Comment by JAP69 - August 25, 2011, 12:12 pm
Yep,
With this recession and no end in sight has readjusted the mentality of many people in this country. Probably why this recession is going to last for a bit. Cash flow has come to a crawl on spending habits.
I listen to Dave Ramsey once in awhile. He has an informative show on debt and building wealth.
4.
sully16Comment by sully16 - August 25, 2011, 12:21 pm
The dollar is deflated and good and services are inflated, not a good marriage by any means.

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