Refinancing

[mandiees]

I saw in another thread that there is some new legislation that will allow people to refinance their homes with better terms? Any idea when this is happening/if it will be available for everyone?

[Lissy]

I have not heard of such legislation, but I hope it is true, and I hope it becomes available soon. Too many people are losing their homes... Refinancing has always been an option, but sometimes the costs of it make it not worth the trouble.

[elvenrunelord]

Some type of legislation was just passed that covers 450,000 home owners in America. A drop in the bucket considering that the estimated number of homes that will be foreclosed in 2008 will exceed 2 million.

[EugenS]

The FHA reform is supposed to help you either refinance or get a home within better terms when it comes to interest rates and downpayments.