There is still a need to help people stay in their homes. FNMA and FHLMC need to change the harp date. FHA needs to stop raising the insurance premium s so first time homebuyers can qualify.
Why is this important?
I work in the lending industry and every day talk to people who are underwater on their homes . The first time homebuyer usually has very little established credit, low down payment and entry level incomes making it very difficult to qualify them for a home. We need to loosen up credit standards and move the affordable loan FNMA/FHLMC cutoff date beyond May 31st, 2009
