It seems all refinancing roads lead to fanny and freddie. Government control for redistribution. Read article not long ago about realestate head looking forward to Obamas legislation to allow foreclosures to be used as rentals. We all know how this starts and ends dont we. Foreclosures used for Section 8 housing payed by you and me. REDISTRIBUTION
Wow! This gives me a great idea for a new business. I’ll convert my home to rental, find a tenant that doesn’t have any income, then give him the money to pay the rent.
Eureka. Another Obama-inspired business model!!!