White House Unveils Mortgage Refinancing Plan

Law360, New York (February 1, 2012, 5:49 PM EST) -- President Barack Obama on Wednesday put forward a plan to lift the housing market by helping homeowners refinance steep mortgages and bring homes threatened with foreclosure back above water.

The White House set itself on a crash course with Congress and unveiled a refinancing plan designed to give homeowners access to historically low interest rates and to otherwise bring greater transparency to the mortgage market.

“While the government cannot fix the housing market on its own, the president believes that responsible homeowners should not have to...
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