Viewing entries tagged with 'refinance'
Relief for Homeowners
The deep contraction in the Nations economy and in the housing market has created devastating consequences: 1,450 homes fell into foreclosure in Berkeley, Charleston, and Dorchester counties during the final four months of 2008 and the rate of foreclosures is expected to go up. Responsible families who make their monthly payments on time have seen values fall, and are unable to refinance at lower mortgage rates. Meanwhile, workers have lost jobs or suffered a dramatic drop in income, and are struggling to stay current on their mortgage payments.