The Federal Housing Finance Agency announced Monday new programs to help “underwater” borrowers refinance their mortgages. The housing plan will allow up to 1 million of these struggling borrowers to take advantage of ultra-low rates and reduce monthly payments no matter how much value they have lost on their homes. The administration is touting savings of up to $200 per month. With his jobs bill dead in the Senate, President Obama is embarking on a plan to roll out executive programs to boost the economy without the approval of Congress, with a new “We Can’t Wait” slogan.
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