Mortgage Lenders News

Obama Refi Plan is Not Housing Stimulus

Barely two weeks after President Obama proposed expanding. like so many of the government’s housing bailouts, will likely be long in coming and short on results. Furthermore, the refinance proposal.

President Obama, under attack for not doing enough for the depressed housing market, unveiled a plan today to help owners of "under water" homes refine their mortgages at today’s lower.

John Ensign, Nevada Republican, also criticized the content of the Obama stimulus package, telling CNBC that the president’s goals are worthy but that they will not be met with this plan. He said.

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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.

 · Obama Unveils $75B Mortgage Relief Plan. Headlining Mr. Obama’s plan is a $75 billion Homeowner Stability Initiative, which would provide a set of incentives to mortgage lenders in an effort to convince them to help up to 4 million borrowers on the verge of foreclosure. The goal: cut monthly mortgage payments to sustainable levels,

Barack Obama’s economic plan will inject $75 billion of stimulus into the economy by getting money in the form of tax cuts and direct spending directly to the people who need it most. Obama’s proposal will immediately provide stimulus using means that do not require lengthy governmental or administrative delays.

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.

The response to President Obama’s recent proposal to refinance more borrowers. Beyond the friction, however, is the simple fact that a refinance program, while potentially an economic stimulus, is.

Hernando County real estate transactions for March 18  · DOUGLAS COUNTY . Residential real estate transfers, June 30. commercial real estate transfers, May 18. douglas county .. Commercial real estate transfers as printed in the World-Herald on.

Timing. To qualify for a HAMP loan, you’ll need to have taken out your mortgage loan at the right time. The program does not allow homeowners to participate if they took out their mortgage loan.

Stimulus mortgage refinance or Obama. not to wait for any longer as the interest rates have turned quite lower. Days have gone when high interest rates have compelled you to pay much higher than.