Sentences with phrase «sufficient equity built up in the home»

The Obama administration realized that with the decrease in home values due to the mortgage crisis and the economy, many homeowners do not have sufficient equity built up in their homes to traditionally refinance or restructure their mortgages to their advantage, despite the drop in interest rates that is prevalent right now in the housing market.

When there is sufficient equity built up in the home, this may be a good time to refinance.