I am a home owner who purchased my home in 2007. My home is worth almost half of what I paid for it. I paid 183,000 for my home and it is worth about 103,000 today. I have almost a 7% interest rate on the mortgage. I have never missed a payment but I am not allowed to refinance and get a lower more afforable rate without an act of Congress. I don't qualify for the progams that help freddie and fannie mortgages. My loan is not owned by one of the 5 "Big Banks" that state attorney generals came to an agreement with to help refinance high interest mortgages. I am not asking for a free handout, I am not asking you to forgive money I owe on my mortgage. What I am asking for is the ability to take advantage of historically low interest rates that would make my home even more affordable.
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