Obama Refi Plan is Not Housing Stimulus

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.

 · Obama’s Plan. Following are highlights of President Obama’s plan to reduce mortgage foreclosures. Allow an estimated 4 million to 5 million currently ineligible homeowners who get their mortgages through Fannie Mae or Freddie Mac to refinance at lower rates.

President Obama’s housing stimulus plan allows mortgage refinancing and modification benefits never before seen. Homeowners in all different situations can easily use this plan to get a better mortgage, save money every month, or even stop a pending foreclosure.

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.

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.

 · But, HARP is not a scam. It’s real and more than 200,000 U.S. households remain “in the money” to HARP-refinance right this very minute. Via an outreach program which includes mailers and town halls, the Federal Housing Finance Agency wants today’s eligible HARP households to get started on their refinances now.

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.

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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 commits $275 billion in.

Obama’s government has come up with Housing Stimulus Plan for all the homeowners so that they can refinance their mortgage and get a loan modification done to save their homes. Government has decided to give $75 billion to help all the homeowners avoid.