We now know one of the details of the Making Home Affordable refinance plan that wasn't clear yesterday. Since refinancing is available to homeowners who owe between 80-105% of the current value of their home, a key component to determining who will qualify will be figuring out the home's value. The Making Home Affordable loan modification plan spelled out how lenders would determine the value of a home for underwriting purposes. They can either use Fannie Mae or Freddie Mac's automate
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Tuesday, March 10, 2009
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