Obama proposes more mortgage help
says Informa Research Services

(10/28/2011) CALABASAS, CALIFORNIA – On his most recent visit to the west coast, President Barack Obama proposed mortgage relief that could potentially help thousands of Americans.  His plan involves making refinancing more accessible to homeowners, regardless of how underwater they are.  Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests consumers check online rate tables to find the best rates with which to refinance their current loan (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

According to the Associated Press, while speaking in front of a home in foreclosure-stricken Las Vegas, Obama introduced a proposal which would allow certain homeowners to “refinance no matter how much their home value has dropped below what they still owe.”  The new plan isn’t without a small set of limitations: homeowners must be current on their mortgages and it is only applicable to those loans sold to Fannie Mae or Freddie Mac by May 31, 2009.  Even Obama himself admitted that his proposal is meant to help, but it will not completely resolve all the housing market issues currently at play (Source: AP).

If they are looking to refinance their current mortgage, homeowners should check online rate tables to find the best deals in their area.  Websites such as ERATE.com feature tables that include some of the nation’s best rates on mortgages, home equity loans, and more.

Additionally, the Federal Housing Finance Administration says that the fees associated with the HARP program will be lowered to help drive new interest in the program.  As reported by MarketWatch, White House officials estimate that refinancing could save homeowners around $2,500 annually.


Follow Informa Research Services on Twitter (@InformaResearch).

Become a fan of Informa Research Services on Facebook


Permission is granted to reprint this release in part or in its entirety as long as source credit is properly listed.
About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.

Personalized Refinance Quotes Select State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware D.C. Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Single Family Multi Family Town House Condo Mobile Home Credit Profile Excellent Good Fair Poor

Fannie Mae & Jumbo Mortgage Rates     Just One Click! = Current Rate Chart

Other related articles:

Federal foreclosure assistance program falls short of goals

Investors better than banks, Feds at shrinking distressed inventory

Top consumer complaints tied to areas of economic distress

Missed the EHLP Opportunity? Use Online Rate Tables to Find Low Mortgage Rates

Government considering new foreclosure plan

Jobs-housing connection a key indicator to watch