Obama to renew push for wider mortgage refinance plan

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The New California Democrat is epitomized by a set of leaders in their forties. But these three milestones stand out: In 2006, more than 10 years ago, when Obama was just gearing up to run for.

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Obama refinance plan helps more borrowers qualify for low-interest loans. Mortgage borrowers who do not have Fannie or Freddie loans will be eligible. The obama refinance plan requires Congressional approval to become law. Editor’s Note: As of late 2012, the Obama Refinance Plan has not been.

 · In Retrospect, It Was Easy to See QE2 Was ‘No Game-Changer’. That difficulty in arranging refinancing for qualified borrowers is at the core of a plan the Obama administration has floated to push banks into redoing loans for burdened mortgage holders at today’s rock-bottom 4.22 percent rates.

Panic: The Untold Story of the 2008 Financial Crisis - FULL EPISODE | VICE Special Report | HBO New Government Refinance and home purchase programs Now Available [Update – The Fed has been compressing mortgage interest rates on Fannie Mae, Freddie Mac, FHA, VA, and USDA mortgages for some time now.Due to those efforts and other market factors, interest rates most 15-30 year fixed government-backed mortgages remain quite low by historical standards.

Revamped plan helps ‘underwater’ homeowners get lower-interest financing. A. Not a new one, but a revamped one. In October, President Obama announced the overhaul of the home affordable refinance program, which hadn’t helped nearly as many homeowners as the government predicted. See also: 10 steps to get you ready for retirement.

The program was created to reach some nine million borrowers with a combination of refinancing options and loan modification. Who qualifies for an Obama mortgage refinancing plan? There is a list of requirements, but the basic rules include: Being current on all mortgage payments for the past year.

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The program targets three mortgage products that were wildly popular during the housing boom: subprime loans; payment-option mortgages with negative-amortization features; and “2-1.