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Obama wants government to do more for homeowners

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Last Thursday evening, President Obama delivered a speech before Congress to encourage American homeowners. “To help responsible homeowners we’re going to work with Federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4% – a step that can put more than $2,000 a year in a family’s pocket, and give a lift to an economy still burdened by the drop in housing prices.” Whether this means a new program or a revision of the existing Home Affordable Refinance Program (HARP) remains unclear. Continue reading
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