Obama Refi Plan Would Help Non-GSE-Backed Borrowers
In the details released today, President Barack Obama fleshed out a proposal he announced in his State of the Union speech to boost the housing market by helping more underwater home owners than are currently being served by lenders.
The President said he wants to make the federal government's existing mortgage refinance program, called HARP (Home Affordable Refinance Program) available to more home owners. It's currently available to struggling borrowers with loans backed by Fannie Mae and Freddie Mac. For these borrowers, incentives are provided under certain conditions to make refinancing more attractive. (Click on above link for more of the article.)
Neal Buckner, Broker/Owner, REALTOR®, CDPE
Office (520) 836-6325 Cell (520) 280-2766
Email: info@eliterealestatepros.com
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