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Released: February 02, 2012
Obama announces home refinancing plan
Source: Zachary Goldfarb & David Nakamura, Washington Post (Free Registration)
President Obama on Wednesday made his latest pitch to lift the nation’s beleaguered housing market, unveiling a series of proposals to help struggling borrowers reduce their monthly payments and to stem the continuing slide in real estate prices. The centerpiece of the effort is legislation that would make it easier for homeowners who have been paying their mortgages on time to take advantage of today’s ultra-low interest rates, perhaps saving thousands of dollars a year. Millions of homeowners, including many who owe more than their properties are worth, have been unable to refinance.Read Full Article: Obama announces home refinancing plan
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