Wednesday, January 25, 2012

SOTU: President Obama Proposes Low Rate ReFi For All Mortgage Debtors

President Obama claims that this would save the average mortgage debtor $3,000 per year.  The big banks have been bailed out, so why not put more cash into the pockets of those who are renting money from them?  Though few details of the plan are available, many economists and housing analysts have created possible scenarios, described in the embedded article below. The POTUS was expected to, but did not, announce the $25 Billion drop-in-the-bucket settlement between States Attorneys General and five big banks for "robosigning" and MERS illegal activities.


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