16 CFR Parts 317 and 318: Mortgage Assistance Relief Services Rulemaking #542309-00002

Submission Number:
542309-00002
Commenter:
von
State:
CA
Initiative Name:
16 CFR Parts 317 and 318: Mortgage Assistance Relief Services Rulemaking

I don't understand what is being done for homeowners who have upside down mortgages. It is impossible to refinance because the appraisal will show the value of the home to be significantly lower than what the homeowner owes on the home. Why can't appraisal be waived if someone in this category simply wants to make good on paying down a bad investment yet still hopes to take advantage of a lower interest rate. It seems better than having more people walk away from their homes?