Why Refi? Your Questions Answered.

Over the past few weeks we’ve been telling you about President Obama’s plan to cut through the red tape that’s been preventing many homeowners from refinancing their mortgages and saving hundreds of dollars each month.  We’ve been soliciting your feedback and asking you to raise your voice in support, and so far your response has been overwhelming.  Since then more than 50,000 Americans have joined the conversation about this important issue.

Many of you had questions about the plan and how it would impact you and your community, so we asked Jim Parrott, Senior Advisor for Housing at the National Economic Council to record a few video responses below. 

Still have questions?  Later this week, U.S. Department of Housing and Urban Development Secretary Donovan will be answering via video response.  You can ask us @WhiteHouse using the hashtag #WhyRefi, on our Facebook wall, on our Google+ page or on this webform on Whitehouse.gov.

Have all the information you need? Visit Whitehouse.gov/why-refi to tell President Obama you support his plan.

Ask an Expert: Refinancing

How much will this cost the taxpayer?


Does it matter if the property is underwater?


If this plan is put in place, would interest rates be the same as what is being offered in the marketplace?


Can I shorten my term and lower my monthly payments in this proposal?

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Related Topics: Economy, Housing, ToDo List