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.
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 foreclosure.
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The cost of the new refi. ""Not as many people have taken advantage of it as we wanted. Ã¢â¬Å”[N]o program or policy will solve all the problems in a multitrillion-dollar housing market,Ã¢â¬Â.
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% and added to the debt.
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The Obama Mortgage, Refinancing, and HARP The official government website for Making Home Affordable has a list of options for borrowers who need mortgage help. Choosing the right program depends on your needs.
President Obama’s $787 billion stimulus package is a consortium of thousands of federal tax measures and expenditures on infrastructure, education, health care, energy and other projects. Many Democrats believe that the stimulus was too small to bolster the economy, as evidenced by the continuing U.S. economic slump.
– PRLog — President Obama’s housing stimulus plan is designed to help distressed homeowners faced with financial hardships. This could enable house makers to save their homes from a possible foreclosure and save a lot of money if qualified for a federal home loan modification.
The Obama administration’s new plan to help owners of "underwater" homes refinance their mortgages at lower interest rates – announced today — is unlikely to raise up the depressed housing market.