When Secretary Paulson announced his new plan that would utilize the Treasury buying MBS (Mortgage Backed Securities) with the purpose of creating a targeted purchase mortgage rate of 4.5%! There are some key elements of this proposed plan that could assist home sales and also potentially depress home sales.
Channel 7/ABC News called me and asked for an interview. See the link below for the full text.
http://www.thedenverchannel.com/video/18208992/?taf=den
In summary, waiting on purchasing or refinancing based on a "bailout plan" that may or may not materialize or attain its objectives may not be the most prudence course of action. As always I suggest to borrowers to gather information, have a mortgage professional preform a review of the pertinent facts and look at several financing recommendations.
Make an informed decision and get an Annual Mortgage Review or purchase Pre-Qualification!
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