March 4, 2009
Out this morning is the new Mortgage Help Guidelines. Do you qualify? It looks as if the plan will help millions of Americans and there will be more information coming out from HUD in the next few hours. What we know for now is that lenders will be able to look at your debt to income ratio and could revert your payments back to 31% of your income. However if you carry high debt on credit cards, car payments etc. you may be required to look at debt counseling. This plan will not help everyone and people should keep that in mind but we are headed in the right direction. I will have a further post tomorrow. But for now check out the article below: Mortgage Help: Do you Qualify?
http://money.cnn.com/2009/02/18/real_estate/Obama_foreclosure_plan/index.htm?postversion=2009021911
http://www.JoeReef.com
Wednesday, March 4, 2009
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