American Mortgage Blog

By Mortgage Blog on 2/6/2012 9:39 AM
During his State of the Union Address, President Obama made several comments directed at housing, and at the mortgage market. In particular, he announced that he will send Congress a plan that will allow responsible homeowners who are current on their payments to save $3,000 a year on their mortgage by refinancing. If this plan requires Congressional approval, it will probably have a very low likelihood of succeeding in 2012.

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