By the Numbers: $3,000
11:35 AM EDT
Right now, owning a home is a source of anxiety for many Americans. Millions of homeowners who are paying their bills on time but struggling could benefit from being able to refinance their mortgages at historically low rates.
President Obama has proposed a plan that will cut through the red tape that’s keeping millions of responsible homeowners from saving hundreds of dollars each month through refinancing. On average, homeowners who refinance will save $3,000 each year—that’s enough to cover about two years of electric bills for the typical family.
That savings doesn’t just help homeowners. With a little extra money each month, our friends and neighbors will be able to do more for their families. That means stronger communities and a stronger national economy. President Obama has been traveling around the country, talking to families about the benefits of refinancing, and calling on Congress to take up his proposal that will help make sure more homeowners are able to take advantage of the savings it offers.
So even if you don't own a mortgage or don't need to refinance, it's important to add your voice. So speak out beside President Obama. Tell us why you support refinancing, and we'll make sure your story resonates here in Washington and around the country.
For more information:
- President Obama’s Plan to Help Responsible Homeowners Refinance: Everything You Need to Know
- White House White Board: Refinancing