PropertyProf Blog

Editor: Stephen Clowney
Univ. of Arkansas, Fayetteville

Friday, August 26, 2011

Obama Administration Considering Plan to Encourage Mortgage Refinancing

Yesterday the New York Times reported that the Obama administration is considering a plan that would “allow millions of homeowners with government-backed mortgages to refinance them at today’s lower interest rates, about 4 percent.”  If it gets the green light, the plan could save homeowners $85 billion a year and inject some needed stimulus into a sluggish economy.  Matt Yglesias argues that the scheme makes a lot of sense.  Ezra Klein does some digging and explains why the scheme is unlikely to work.  

Steve Clowney

http://lawprofessors.typepad.com/property/2011/08/obama-administration-considering-plan-to-encourage-mortage-refinancing.html

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