A break for those "underwater" on their loans!

You may still be able to refinance to advantage

By Inman News, Wednesday, July 1, 2009.
Homeowners who are up to 125 percent underwater will be allowed to refinance under the Obama administration's Home Affordable Refinance Program if they are current on their payments and their loan is owned or guaranteed by Fannie Mae or Freddie Mac.
The federal regulator overseeing Fannie and Freddie has boosted the program's loan-to-value (LTV) ceiling from 105 percent to 125 percent to allow more homeowners to take advantage of lower mortgage rates. more..."

Norton's comment: So if you are underwater on your condo but your payments to your loan co. are current, then you may be getting a break here on your cashflowl. check it out!