Borrowers can expect savings, but the banks aren’t required to give them today’s rock-bottom rates. Under the settlement, the new rate must be at least 0.25 percentage point
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The current White House’s administration also has been trying to simplify it all for borrowers with loans backed by government-controlled mortgage companies
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Complite Projects
Under the settlement, the new rate must be at least 0.25 percentage point lower than the borrower’s existing rate, or decrease monthly payments by at least $100
Many borrowers haven’t been able to use this advantegous lower rates situation because off being “under water,” meaning they owe more than their homes are worth
ADAM RICHMON, CEO
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