The Experts In Real Estate And Mortgages

Do you think that the middle class seems to get the least amount of help from the government?

Even the FHA bailout for people about to go into foreclosure seemed not to help folks with loan amounts over $368,000.

I was trying to refinance a loan for someone that had a mortgage balance that was just over the FHA limit by $3,000 and could not get them financed.

They met the other criteria and needed this refinance to bring their payment back to where it was previously to their adjustable rate going through the roof and increasing the payment by $400.00 per month.

This was not affordable to them and was causing them to get behind on the payment and perhaps into foreclosure.

I recently came across this recent post on The New York Times that talks about the Bush administration and the Federal Reserve are inching closer toward a government rescue of distressed homeowners and mortgage lenders.

This seems to be something that would help homeowners like my client and millions like him.

Maybe, since he is on his way out, President Bush wants to go out with a bang and is doing something that, if done correctly, would help the largest number of people in foreclosure, the middle class by raising FHA and Freddie Mac/Fannie Mae loan limits as well as initiating several other other plans that could dramatically help us.

What are the proposed higher loan limits and drastic changes?

Go here to find out Bush and Fed Step Toward a Mortgage Rescue

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