Federal Housing Bill Question?

[Tex2020]

I was sucessful in getting my Option One mortgage modified back in July. I made my first payment in August with the second coming up soon. I was in an adjustable rate mortgage, the mod was done as a Fixed Rate, but at 9.65%.

Will the the new Bill allow for me to refinance at a lower rate?

Just wondering if I should explore further.

Thanks

[Scott Hazlett]

Hi Tex2020,

If you are refering to HR-3221 then no. It most certainly is not the silver bullet that people were hoping for. At the heart of the bill is the lenders/investors decision to help or not, and you have already been down that road.