Obama Weekly Address

George Wenschhof



President Obama urges Congress to pass his plan to help homeowners refinance their mortgages. This plan would help the average homeowner save $3,000 a year on their mortgages.

It would allow homeowners, current on their mortgages, who have seen their home values drop below their mortgage amount values, refinance at low rates.

This is the latest proposal from the President to aid distressed homeowners who were hit the hardest by the economic downturn. Some democrats feel the plan does not go far enough.

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