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.

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