Last Friday, U.S. Housing and Urban Development Secretary Shaun Donovan joined U.S. Congressman Alcee L. Hastings (FL-23) to host a refinance roundtable discussion centered on President Obama’s recently announced proposal to help responsible homeowners who have been underwater on their mortgage take advantage of refinancing at historically low interest rates.
In May, President Obama asked Congress to make things simpler for responsible homeowners as part of his “To-Do List” for lawmakers. Part of the proposal will allow responsible homeowners to save thousands of dollars each year, lowering monthly payments and foreclosure rates, and propelling property values in American communities. The proposal will give families access to simple, low-cost refinancing and help rebuild home equity lost during the housing crisis.
The roundtable, hosted at Consolidated Credit Counseling Services, Inc. in Fort Lauderdale, Fla., included a diverse group of community stakeholders and focused on the Obama Administration’s actions to address the housing crisis.
For more information on the President’s proposal to help responsible owners refinance, visit whitehouse.gov/why-refi. Also, visit hud.gov, HUD on Facebook or HUD via Twitter @HUDgov for regular updates.