President Obama gave his jobs speech to Congress on Thursday, December 29, 2011. Housing was only briefly mentioned. However, the brief mention could finally be a step in the right direction. President Obama stated he plans to work towards helping millions refinance at todays' record low housing rates.
President Obama is hopeful that with the almost 4% rate we are currently seeing, over $2,000 could be put in a single family's pocket and give a lift to the economy. The President plans to work with federal agencies to allow homeowners with mortgages backed by the federal government to refinance even where the homeowner has bad credit due to a financial hardship or the home is underwater.
Just like the other government programs that have been launched to try to help homeowners save their home in light of a bad economy, this new program is likely to be difficult to navigate and qualify for. If you are facing foreclosure, do not go through it alone. Contact a Florida a Florida Foreclosure Defense Attorney or a Jacksonville Foreclosure Defense Attorney for a free consultation today to discuss the options available to you.
