Senators press for mass mortgage refi plan

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More than three dozen reporters and seven TV film crews crowded into a Senate press gallery to hear the returning Banking Committee chairman talk about the subprime mortgage crisis. Kerry (D-Mass.).

The FHA Short Refinance program is for those are not behind on their payments but who are underwater on their home. The catch is that your current mortgage servicer must agree to reduce the amount you owe to no more than 97.75% of your home’s current value. Basic Eligibility: Your mortgage is not owned or guaranteed by FHA, VA or USDA.

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Obama’s plan. ask Congress to broaden a separate refinance program that seeks to help underwater borrowers with loans backed by Fannie Mae and Freddie Mac win new loan terms. It said the regulator.

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A mass mortgage refinancing plan with a new bank tax to pay for it. Obama’s description is sketchy, but here’s how ace analyst jaret seiberg of Guggenheim Washington Research Group sees this new plan playing out: The President is pushing an easy-to-execute plan to let borrowers refinance mortgages regardless of LTV.

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With Republicans continuing to stall action on President Obama’s 7 billion jobs bill, the White House is taking action to help jump-start the economy with the message "We can’t wait." President.

Barney Frank, chairman of the House of Representatives Financial Services Committee, in an interview with Reuters called the senate bill “good progress.” But the Massachusetts. plan and legislation.

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