Who Wins with Obama’s New Homeowner Plan?
February 24th, 2009 categories: About the Local Market, Real Estate Resourcing
1. Those who want to refinance their home to take advantage of lower interest rates but have been refused because their home value has declined and does not meet the lender’s required Loan to Value Ratio.
2. Those who have a reduced income flow and are “at risk of imminent default” (e.g., either they are already delinquent or can show that they can not pay their current mortgage) may qualify for a loan modification (reduction in interest rate and/or principal).
3. New Homebuyers (e.g., first time homebuyers or those who have not purchased a home in the last 3 years) may qualify for a $8,000 Homebuyer Tax Credit.
For more details, check out the following articles:
First Time Homebuyer Frequently Asked Questions
We specialize in helping both new homebuyers and those who are in trouble. Give us a call at 830-995-2511 and we’ll see what we can do for you.
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