Wednesday, July 01, 2009
01:55 PM Texas Time
Refi LTVs Boosted
HARP LTV expanded to 125%
The Federal Housing Finance Agency, issued a statement indicating that the maximum loan-to-value on loans refinanced under the Home Affordable Refinance Program will increase to 125 percent.
Previously, the LTV was capped at 105 percent.
In addition, borrowers are being given incentives to pay their loans down in less than 30 years.
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