“We are at a time where people can really take advantage of this…. The main message we want to send today is there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates. That is money in their pocket.”
– President Barack Obama is urging homeowners to take advantage of super low mortgage interest rates through the recently introduced Making Home Affordable program to possibly ease their financial burdens. He made the remarks in the White House’s Roosevelt Room alongside several other key individuals who are charged with getting the housing market back on track, which includes ensuring that people are able to afford their homes and remain in them to avoid more foreclosure situations. According to an Associated Press report, nearly 200,000 homeowners contacted Bank of America alone “to find out if they are eligible to refinance under the Obama administration’s new guidelines.” To learn more about Making Home Affordable and determine whether or not you can refinance your home mortgage click here.
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May 15, 2009 at 2:51 pm
Jennifer
I have a question…. My husband is laid off and from what my bank told us we qualified for the the refinancing, we just need to have our home appraised. My concern at the time was the recent “Notice of Assessment” from our county assessing our house less than $25,000 from 2008. The bank said we wouldn’t have to worry because this had been taken into consideration. My concern also was any extra cost, being that our finances are tight as it is. No problem, all would be rolled into the refinancing. Well…. the appraisal company, appraised our home for $100,000 LESS than the county assessment. Now we have a $400 bill to the appraisal company and no refinancing. How can this be and do I have any recourse to the appraisal co. or the bank or the county for which I don’t think is in the wrong.
November 3, 2009 at 3:02 pm
chris elkins
I spent the last 6 monthe trying to get me mortgage lowered through HAM and all us bank lowered it was 200 which was about the amount of the escrow payment.That doesn’t help me much, my payment is still 1100.00 a month and I still have to send them 800.00 for the escrow payment. I can’t see where I’ve gained anything.