tag:blogger.com,1999:blog-25624189.post6730619163936085062..comments2008-08-08T12:15:37.364-04:00Editor in Chiefnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-25624189.post-43776919227680368332008-05-23T10:18:00.000-04:002008-05-23T10:18:00.000-04:00Seems odd that one can exceed 100 CLTV by subordinating a 2nd trust on a “cash out” transaction but NOT on a “rate and term.” I don’t agree with the policy, if you can exceed 100 CLTV on a cash out refi, then the same should apply to a rate and term, particularly in the current market where we find many homeowners facing adjusting 1st trusts that they will not be able to afford and can’t refinance out of because the value of their property has declined.Michael Kaibnihttp://www.blogger.com/profile/03211219037758400020noreply@blogger.comtag:blogger.com,1999:blog-25624189.post-35961879182710219492008-02-04T10:42:00.000-05:002008-02-04T10:42:00.000-05:00Thank you so much for the easy clarification. Why can't HUD just write a straight forward manual?<BR/><BR/>John SeverinoJohn Severinohttp://www.blogger.com/profile/01231169339276170120noreply@blogger.com