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· The Obama refinance plan can’t be imposed by presidential order. To become law, Congress must pass the President’s proposals. President Obama aims to build grass-roots support for his proposals and put pressure on Congress to offer relief to homeowners.
If you are experiencing difficulty communicating with your mortgage company or lender about your need for mortgage relief, housing counselors are available to help you do so at no cost. CALL 888-995-HOPE (4673) The sooner you reach out for help, the more options may be available to you.
Mortgage rates plummet to new lows Mortgage agency Freddie Mac says average 30-year mortgage rates hit 3.82% in June, the lowest level in nearly two years. This is one of the best times in history to refinance, but will rates stay low?
During a CNN town hall on Monday, the senator from Massachusetts told a crowd of college students that the second part of her plan is to. Weekly mortgage applications fall 2.3% as rates rise – Hong kong activists plan weekend mass rally against China. be capable of operating as. Total mortgage application volume fell 2.3 percent last week, the morgage bankers association says.. Big bank-reform bill that passed Senate includes new VA loan.
How the Mass Mortgage Refinancing Plan Would Work. Apparently it would be modeled after a plan originally thought up by Columbia University economists Glenn Hubbard and Christopher Mayer. Every homeowner with a fannie/freddie backed mortgage would be eligible to refinance their existing first mortgage to a fixed rate of 4% or less.
With Republicans continuing to stall action on President Obama’s $447 billion jobs bill, the White House is taking action to help jump-start the economy with the message "We can’t wait." President.
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c. Extending streamlined refinancing for all GSE borrowers: The President’s plan would extend these steps to streamline refinancing for homeowners to all GSE borrowers. Those who have significant equity in their home – and thus present less credit risk – should benefit fully from all streamlining, including lower fees and fewer barriers.
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