Yeah, nuts. I don't understand all that business 'bout clearing their balance sheets for Feds! Way over my head.
Was speaking to a friend (the "sister" I never had) with a WF mortgage, encouraging her to apply now for primary refi. Her husband had a stroke last fall and they have to move to a more accessible dwelling. They're not in the non-conforming bracket but the LTV changes I read about in the article could affect their chances. Fortunately, they have plenty of equity and short loan term left. We've known each other since first grade. Hope the lender is sympathetic to their plight (they are current on the mortgage right now) and can advise on adaptation rehab options if cash-out not possible for them.
But then, it's not personal or emotional for F.I. - just business during a global nightmare economic crisis. |
