The President’s Housing Plan–What You Need to Know

The White House

President Obama took Wednesday morning to answer your questions on housing during an online interview, and it’s worth a watch. It’s part of his push for a more secure foundation for middle-class home ownership.

We want to make sure you’ve got the facts about President Obama’s plan, and the resources that are already available for homeowners.

Here’s what you need to know: The President’s plan involves simple, commonsense steps that folks on both sides of the aisle agree on. That means making it easier for families to refinance, reforming the system so families aren’t on the hook for the bad behavior of certain mortgage lenders, and helping folks who aren’t homeowners yet get affordable housing that’s right for them.

Click here to find out more about President Obama’s plan.

And while  we need to do more, there are some resources we’ve already helped make available:

  • MakingHomeAffordable.gov is there to help get you mortgage relief and avoid foreclosure. If you or someone you know needs assistance, they can help you find programs that can help — both online and through a free, 24/7 support line that can connect you with housing experts.

Take a minute to share this information with your family and friends, so that people who might not know about these resources can start getting help if they need it.

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White House White Board: Refinancing

In this installment of the White House White Board, Brian Deese, Deputy Director of the National Economic Council, explains how President Obama’s plan would make it much easier for millions of American homeowners to refinance their mortgage and save hundreds of dollars every month.

The ability, or inability, to refinance a home mortgage is a problem confronting Americans across the country. Millions of families who bought homes before the financial crisis, and have been paying their bills on time every month since, are locked in at the high interest rates of the past. Even though they have done everything right, they can’t refinance at today’s rates, which are historically low.

If these folks were able to lower their rates, they’d have more money in their pockets each month. That’s good for their families, their local communities, and the nation’s economy.

So take the time to learn more about President Obama’s refinancing proposal, and tell us what you think so that we have the information we need to help get this done. Your answers will shape the work we do in the weeks ahead.