How would you like to save $3,000 per year on your mortgage? That's exactly what President Obama is working to do for American Homeowners. He announced on February 1st that he has a plan to help homeowners like you to refinance your mortgage. Why? The goal is to help stabilize and boost the housing market again. Although, this plan is expected to cost between $5 billion and $10 billion to put into effect. Obama plans to get the funds for this by putting a fee on large banks.
The programs associated with this plan will give lenders and other stakeholders the tools they need to help borrowers with their mortgage woes and to ultimately increase the country's confidence in the real estate finance system.
The Obama Administration, Congress and the National Association of Home Builders will continue looking for ways to increase refinancing opportunities, to reduce the inventory of foreclosed homes and to hopefully prevent additional homes from falling into foreclosure.
Tuesday, February 7, 2012
Obama's Foreclosure Prevention Plan
0 comments:
Post a Comment