amackent Wrote:
Dec 31, 2012 11:35 AM
I'm sorry, but why pay off the conventionally lenders for 5 years? If the Feds want to write standards that would allow people in this situation to refinance with the Feds guaranteeing these peoples mortgages that's bad, but understandable, but why would they have to pay off the conventional lenders for 5 years? Unless there's some kind of pre-payment penalty, why would the current lenders need to be paid anything? Are they yet again funneling big money to the wall street bankers?