Tag Archives: Obama mortgage refi plan viewed as only partial housing solution

Even if the promising mortgage refinancing plan President Obama announced Tuesday night passes Congress, critics say it will fall short of solving the deepest housing problems. The White House did not release great amounts of detail, but the plan would help homeowners current on their mortgage to refinance down to a lower rate and save an average $3,000 a year on payments. The plan widens the Home Affordable Refinance Program to include mortgages not guaranteed by Fannie Mae and Freddie Mac and would tax banks to raise funding. Analysts said […]