Obama’s Mortgage Refinance Plan: Too Little, Too Late?
Will the Obama administration's proposal to give homeowners with privately held mortgages a shot at record-low rates make an impact on community associations dealing with delinquent members and looming foreclosures? The plan could save those homeowners up to $3,000. And giving homeowners an opportunity to refinance their mortgages at lower interest rates—even if they owe more than their homes are worth—could make it easier for members to pay not only their mortgages, but also their association dues, taxes, and other fees.
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