President Obama Last Night Called on Federal Housing Agencies to Help More Homeowners Refinance at Today’s Low Rates, An Approach Senator Boxer Has Been Advocating
Washington, D.C. – September 12, 2011 – (RealEstateRama) — U.S. Senator Boxer (D-CA) today praised the announcement by the Federal Housing Finance Agency that it will work to identify and reduce barriers to refinancing for millions of American homeowners who are current on their mortgage payments but underwater on their homes.
Senator Boxer said, “I am heartened that the Federal Housing Finance Agency is moving toward reducing the barriers that have kept millions of homeowners from refinancing, which is what Senator Isakson and I have proposed in our bipartisan Helping Responsible Homeowners Act.
“This economic turnaround is being slowed by the housing crisis and helping responsible homeowners refinance at lower rates will put thousands of dollars back in the pockets of families and help keep them in their homes.”
Senator Boxer has been leading calls for renewed efforts to help homeowners refinance at today’s low rates, and she is the author of a bipartisan bill with Senator Johnny Isakson (R-GA), the Helping Responsible Homeowners Act, which would help up to two million homeowners refinance and prevent 54,000 defaults. For more information on the bill, click here.
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