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For homeowners: Mortgages will be able to be inherited after a homeowner's death.
Lenders issuing such mortgages will be able to sell them to private investors and avoid retaining any of the risk associated with a default of the loan on their own books.
Does any rational person believe that homeowners who need principal reduction in order to maintain their mortgages will be able to afford the income tax on an additional $100,000 (if that's the amount forgiven)?
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Homeowners facing repossession who cannot pay their mortgage will be able to get the interest payments paid by the state on properties worth up to £200,000 from 5 January, up from the present £100,000 level.
The proceeds will then be used to fund massive discounts for housing association tenants, who – provided they are fortunate enough to afford a sizeable mortgage – will be able to purchase their property.
Your local business regulatory agency, and/or the governing agencies of any other regions or localities you want to broker mortgages in, will be able to tell you exactly what it will take to be registered as an independent mortgage broker in those areas.
Not all mortgage seekers will be able to sign up, and those who do will still have to go through "rigorous" affordability checks by their lender.
This will be less expensive in the long run and reputable mortgage lenders will be able to explore prices for you.
Metros with fewer mortgages like these, will be able to flush foreclosures out of the market sooner, as these borrowers are likely to end up in foreclosure eventually.
Alternatively, is there a mortgage broker who will be able to help?
Not only is the rate even lower on a 15-year mortgage, but you will be able to pay off your loan earlier and your payment may be about the same as you're paying now.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com