Home Buyer News

Obama Refi Plan is Not Housing Stimulus

President Obama’s home refinancing plan seeks to let a million or more American homeowners save money on their mortgages, even if those loans are underwater. But the plan announced Monday is not a new.

Part of the Obama Stimulus Plan included a streamlined refinance program called the Making home affordable plan that could potentially save participants hundreds of dollars per month on their house payments. This "streamline" process contains a number of hurdles one will have to navigate through.

Residential lending drops 84% from peak year Retail Shopping Center Another benefit of getting a mortgage loan for a Veteran. Mortgage Masters Group Shopping Centers Today Value Retail News & directories newsstand. events. connect with other professionals at a local, regional or national event. Professional Development. Grow your skills online, in a class or at an event with expert guidance.5 days ago. The drop last week meant that 8.2 million 30-year mortgage holders could likely qualify for a refinance and save at least 0.75% off of their.

– PRLog — President Obama’s housing stimulus plan is designed to help distressed homeowners faced with financial hardships. This could enable house makers to save their homes from a possible foreclosure and save a lot of money if qualified for a federal home loan modification.

Obama announced his action plan to revive the housing industry. The focus is to assist current home owners with there current mortgage, whether it is a refinance or loan modification. Also.

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Tara Siegel Bernard is a personal finance reporter, and has previously written on the Obama administration’s housing plan, offered advice on how to qualify for a mortgage backed by the Federal Housing Administration, and answered readers’ questions on the tax breaks and benefits for individuals in the economic stimulus package.

· How The obama mortgage plan works president barack obama says up to 9 million struggling homeowners could get help from the housing rescue plan he outlined. The plan. harp refinance: loans For Underwater Homeowners. Sometimes called the "Obama Refi", the HARP program was launched in 2009 as part of that year’s economic stimulus program.

Obama Unveils $75B Mortgage Relief Plan.. "This plan will not save every home," Mr. Obama said.. The president’s announcement came a day after he signed into law a $787 billion economic.

Mortgage Stimulus Plan From Obama Allows 4.5% refinancing mortgage Refinance President Barack Obamas “Home Affordability Plan” mortgage refinancing plan will make monthly home loan payments much more manageable for over 6 million homeowners.

Those seeking an Obama mortgage are often not eligible for refinancing; often because they are late on several house payments or otherwise don’t qualify. For these borrowers, the loan modification part of the Obama mortgage plan is a very good way to get back on track financially.

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