Obama Refi Plan is Not Housing Stimulus

Republicans have shown little interest in giving President Barack Obama the significant new stimulus package that he has. the new push started with the announcement of a plan to streamline a.

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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.

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NEW YORK (CNNMoney) — It might get easier for some homeowners to refinance their mortgages, but that won’t do much to help the broader housing market. The Obama administration. Act bogged down in.

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President Obama announced a harp (Home Affordable Refinancing Program) stimulus, stuff designed to help financially struggling homeowners get affordable loans and lower their monthly payments. To refinance a mortgage or first approval for the change with low interest rates is easier to do than ever before, illness for almost every homeowner.

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Obama’s biggest challenge was to create enough of a stimulus to soften the recession, but not big enough to raise further doubts about the ballooning U.S. debt. Unfortunately, the plan was blamed for doing both. It failed to initially reduce unemployment below 9 percent and added to the debt.

While the government cannot fix the housing market on its own, the President believes that responsible homeowners should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference, including allowing these homeowners to save thousands of dollars by refinancing at today’s low interest rates.

Obama outlined the housing plan on Wednesday, asking Congress to approve legislation that would make it easier for more borrowers to refinance. sector jobs, "not by wasting your money on.

 · Obama’s Stimulus: A Documented Failure. The president’s implication is that the economic situation in America today, insofar as it has been caused by government policies, has not been caused by his government’s policies. But, in reality, Obama is.

 · The newspaper said that the refinancing plan ""is still under discussion"" by housing officials across the administration, with questions about eligibility and whether mortgages past due could.