My little blog on mortgage refinancing
The National Association of Home Builders, for example, is pushing for increased tax credits and a reduction in mortgage rates for consumers buying a home in 2009. Builders are not the only ones predicted to have difficulty this coming year. Mortgage insurers, most notably MGIC, are not anticipating much profitability either. Mortgage foreclosures are anticipated to go up even more, which will reduce the bottom line of mortgage insurers who back those mortgages. Risky mortgage practices undertaken by many banks and investors came to head in 2008 and left many homeowners holding the bag of declining home values.