Asked by Brian Halstead, Miami, FL • Thu Nov 15, 2012
Look I have a client who bought a house from me in 2006, she have faithfully paid her mortgage since then despite her home being under water for the past four years when the market collapse, she cannot refinance because her primary loan from BoA is not a Fannie Mae or Freddie Mac loan hence she does not qualify for any government program (HARP), unfortunately it is owned by investors Wall Street, whose fault is that? If anyone deserve a break it is this woman she paid her mortgage religiously all these years despite everyone advising her to just walk away, of course she has great credit but her home is so far underwater at least 300K now, she is house poor and will be for at least the next two administrations.
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