making home affordable

Making Home Affordable expanded again - borrowers allowed to refinance loans up to 125 percent of value

Posted July 2, 2009 - 12:04 by Xin Lu

Personal Finance, Real Estate and Housing, Consumer Affairs

100% Financing

When the Obama administration first announced the details of the Making Home Affordable program in March, the guidelines for the refinance portion stated that the loan refinanced cannot be more than 105% of the value of the home. Now a new expansion of the program allows the loan to value ratio to be up to 125%. Will this help consumers or just worsen the situation?

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