Posted by: RAPV | January 27, 2012

Obama Seeks to Speed Mortgage Refis

President Obama in his State of the Union speech on Jan 24 proposed a plan to streamline mortgage refinancings for underwater home owners so they can take advantage of historically low interest rates.  The President said borrowers could save $3,000 a year.  Cost of the program would be offset by a fee charged to the country’s largest banks.  NAR President Moe Veissi after the speech released a statement saying NAR stands ready to help efforts to streamline the refinancing process for struggling home owners. More.

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