Obama Chops Refinance Costs For Some Mortgages
via: cnn.com
NEW YORK (CNNMoney) — Borrowers with some federally insured mortgages will be able to refinance into lower interest rate loans more easily and cheaply under a plan being unveiled Tuesday by the Obama administration.
At a news conference scheduled later in the day, President Obama was set to announce that the Federal Housing Administration will cut upfront fees for refinancing loans it already insures.
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