Obama plan to prevent foreclosures enables more homeowners to refinance
Borrowers who have made their payments on time but are saddled with high interest rates may be eligible to refinance, despite decreases in their property values.
Though the final operational guidelines of the Obama administration’s foreclosure-avoidance programs won’t be released until Wednesday, key details have begun to surface on the extraordinary refinancing opportunities that will be available to an estimated 4 million to 5 million homeowners whose mortgages are owned or guaranteed by Fannie Mae and Freddie Mac.
Obama plan to prevent foreclosures enables more homeowners to refinance
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