Wednesday, February 8, 2012
HOUSE HELP
8:01 AM | 
Posted by
pensionfinancialservices |
Is there a doctor in the house? Not TV’s Dr. House, but rather someone to treat what ails millions of America’s homeowners.
The American economy may be in the process of recovery, but not so average home prices, which, according to a New York Times story last week, “were back down to levels last seen in mid-2003.” Some help could come in the form of new legislation that President Obama is sending to Congress that could make refinancing easier for millions of Americans seeking to capitalize on low interest rates. The plan, the President said, “would give responsible homeowners a chance to save about $3,000 a year on their mortgages by refinancing at historically low rates. No more red tape. No more runaround from the banks.”
As the Times reported, the “proposal was aimed at two groups of eligible homeowners: about 11 million whose loans are backed by Fannie Mae and Freddie Mac, and about 3.5 million whose loans are privately held. Only homeowners who are current in their loan payments and have a credit score above 580 would be eligible.”
The jury is still out on whether help for depressed home prices may ultimately depend on help inside or outside Washington. Economists see a positive trend in the fact that demand for new housing is now increasing far faster than supply. Being a home, condo or co-op owner is obviously an important part of your financial profile—and perhaps factors into your retirement planning--and the experts at Pension Parameters Financial Services, as always, look at the whole picture in terms of analyzing how market conditions and conditions in all strata of the economy can conceivably impact a portfolio.
Whether you’re a property owner or renter, PPI experts are renowned for helping construct and grow a prudent retirement plan. And, if you like, we’ll go on the road to talk to you about it, traveling to your business or even, yes, your home.
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