In the wake of President Barack Obama’s announcement that he plans to implement a new mortgage program that may assist you in refinancing your home loan, the initiative has gained support from the National Association of Realtors.
The plan, which was announced in the president’s State of the Union Address, would allow more borrowers to refinance their home loans into lower rates to further make homeownernship more affordable. According to the White House, qualified households will be able to save thousands of dollars in annual mortgage payments.
Meanwhile, NAR applauded the efforts of the president as he further assists homeowners in the struggling real estate market.
“As the nation’s leading advocate for homeownership and housing issues, NAR knows that stabilizing the housing market is key to the health of our economy and communities across the country,” said NAR president Moe Veissi. “We are pleased that the President released a plan to help America’s struggling housing market and homeowners.
Additionally, the industry group voiced its eagerness to work with congressional lawmakers to put the plan into action to streamline the refinancing process for millions of Americans.
Arming yourself with the most up-to-date housing market details is a great way to stay informed of current mortgage loan rates. Freedom Mortgage offers some of the most extensive news, homeowner tips and personal finance information in the industry.
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