Your efforts to ease out the public from under waters (lower house market value and higher mortgage loan) by offering lower interest rates and bringing out so many other solutions are helping many but missing others as well.
I obtained a mortgage loan in June 2010 and the value of the house fell down by about $60,000. I have been trying to take advantage of the home affordable program.
I failed in this due to the following:
I obtained loan in June 2010. (after June 2009)
They are offering me stream line finance and the interest rate is between 3.4 and 3.75%.
But the PROBLEM IS my PMI will increase from $176 to $415 and the whole benefit due to lower interest rate is wiped out
It may be noted that I already paid 2.5 years mortgage and I will be going to pay for the full 30 years .
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