Let me try to help you make sense of the Government Home Affordable Refinance program. Believe me it can be very confusing.

Under the federal government’s Home Affordable Refinance program the plan is confusing and confounding. For example, under the program, lenders are supposed to refinance loans with mortgage insurance. But they are evasive about whether they will.

Another example: Last month, Fannie Mae and Freddie Mac announced that they would refinance mortgages at up to 125 percent of current market value. Sounds great — but borrowers will have to wait.
Continue reading New rules for Refinancing That You Just do not Hear About →