Underwater Mortgage

The White House Announced a Plan to Help Underwater Homeowners Refinance on Their Mortgages; Do You Think This Will Help Active Duty in Hampton Roads?

By: Williamsburg Military Insider

The president announced his “Plan to Help Responsible Homeowners and Heal the Housing Market” initiative saying it would “give every responsible homeowner in America the chance to save about $3,000 a year on their mortgage by refinancing at historically low rates.” Basically a plan yesterday to help underwater homeowners refinance their mortgages — which they can’t do currently — and take advantage of historically low-interest rates. The $5-10 billion plan would be paid for by a fee levied on large banks. What do you think? Should the government be helping underwater borrowers? Would you utilize this program in order to get your head above water? Curious to hear your thoughts and reactions.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com