President Obama urged Americans to take
advance of the administration’s new program, which allows homeowners
whose loans are underwater to refinance.
Obama, who spoke Thursday at a White House
event, pointed to historically low interest rates and estimated that if
7 million to 9 million homeowners refinance, they will save $1,600 to
$2,000 a year.
That is money in their pocket, Obama
said. We are at a time where people can really take advantage of this,
and what we want to do is to send a message that if you are having
problems with your mortgage – and even if you're not, and you just want
to save some money – you can go to makinghomeaffordable.gov.
Source: The Wall Street Journal, John D. McKinnon (04/09/2009)