by Dave in Denver:
"... Here's one that should piss everyone off. The Government/FHA is introducing a new FHA mortgage refinance program - using taxpayer money of course - to incentivize homeowners to refinance their existing mortgage into one that carries much lower mortgage insurance fees. And guess what? This refi program is a no-income, no employment verification and it's okay to be under water program: "The new lender is not required to verify homeowner's income, employment or credit score. And no appraisal is required, so the homeowner can be underwater. ..."