Mortgage refinance question

[Powerstroke]

So, with the new Obama bailout.....when can homeowners start operating under the rules and refinance without consideration for the loss in home value due to the economic downturn.

The last time I tried to refi I was told a huge factor keeping me from doing so was the loss in my home value since I purchased at the top of the bubble and its since lost 10-15% in value making me owe more than its worth.

Anyone know when these rules will start making it to the lenders?

[norm25]

Just stop paying your mortgage, credit cards, utility bills, buy a new car, new boat, new four wheeler,and quit your job. Then you will qualify. Sorry couldn't help it.

[mtreno]

its funny but not funny

believe it or not i had a guy call me at the office today and ask when he can stop paying his mortgage.

powerstroke -

trust your broker/banker. they know what is really going on.

[CarpKing921]

I was told around the beginning of March all the info should be available. GL

[Powerstroke]

I haven't contacted my broker again cause I was waiting for this stuff to happen. I don't need my credit getting pulled any more than it has to. I was hoping someone would know.