Refinancings, Loan Modifications Suggested to Boost Housing Market

摘要

Expanded refinancing of underwater mortgages and loan modifications that combine payment reduction with shared appreciation for lenders were suggested as ways to boost the housing market at a September 14 Senate housing subcommittee hearing. Mark Zandi, chief economist and co-founder of Moody's Analytics, noted that the level of refinancing has been disappointing, considering that borrowing costs are at record lows.