Obama to renew push for wider mortgage refinance plan

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New Government Refinance and Home Purchase Programs Now Available [Update – The Fed has been compressing mortgage interest rates on Fannie Mae, Freddie Mac, FHA, VA, and USDA mortgages for some time now.Due to those efforts and other market factors, interest rates most 15-30 year fixed government-backed mortgages remain quite low by historical standards.

The Obama administration proposed a plan aimed at helping millions of homeowners refinance their mortgages to today’s historically-low rates. To make it work, he’ll need $5 billion to $10 billion.

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In the lead-up to the presidential election of November 4, Wall Street swung its support behind Obama-with the media promoting him. securing the passage of the $700 billion TARP asset-purchasing.

Fannie Mae: Home construction jobs still years from recovery Obama to renew push for wider mortgage refinance plan hillary clinton, the nominee of the Democratic Party for president of the United States in 2016, has taken positions on political issues while serving as First Lady of arkansas (1979-81; 1983-92), First Lady of the United States.

Do You Qualify for an Obama Mortgage Refinance? The Obama Administration has taken dramatic action to help the U.S. out of its current economic slump. Their mortgage refinance plan, for example, is designed to help people capitalize on low interest rates.

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After all, they loathe everything Obama and the Democrats have even hinted. Survey participants said about 32 percent of this refinance volume was for Home Affordable Refinance Program (HARP) loans.

President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments. The plan is an expansion of an existing program to help borrowers who are not behind on their payments but cannot refinance because they do not enough equity in their home.

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Watchdog Critiques Obama’s Mortgage Plan. The Obama administration’s housing rescue plan is a step in the right direction, but the plan certainly isn’t without its downfalls, said a congressional oversight panel in a report released friday. The $275 billion plan, announced on February 18, aims to prevent unnecessary foreclosures through obtaining.

Obama’s plan, it is said will make it easier for the home owner to afford their monthly payment by refinancing the mortgage,as well as putting in billions of federal dollars into tempting those companies to modify the loads of the people who have already stopped their mortgage payments nationwide.