The Atlantic reported that the Obama administration has a plan that
would allow millions of homeowners with government-backed mortgages to
refinance them at today’s lower interest rates. This could be great
for many homeowners that would like to refinance but homes will not
appraise high enough to qualify.
The interesting twist is they are “pressing New York’s attorney
general to drop its investigation into dodgy foreclosure practices and
settle with the banks.”
Why? They need the banks on their side to put the plan into motion.
http://www.theatlantic.com/business/archive/2011/08/why-is-the-white-house-de… Barry Bevis, Broker/Realtor