Will a Veto Save Refinance Program?
The White House is threatening to veto any Republican bill that would end an administration-backed program that helps underwater home owners refinance their homes.
Last week, the House Financial Services Committee voted to end the Federal Housing Administration Refinance Program. Since the program started last September, it has helped 63 underwater home owners modify their mortgages into more affordable FHA-insured loans, according to the Housing and Urban Development Department.
Read the entire story from REALTOR Magazine Online Daily (and source Associated Press)
Posted on Thu, March 10, 2011