SOURCE: Informa Research Services, Inc.

Informa Research Services, Inc.

October 28, 2011 14:39 ET

Obama Proposes More Mortgage Help, Says Informa Research Services

CALABASAS, CA--(Marketwire - Oct 28, 2011) - On his most recent visit to the west coast, President Barack Obama proposed mortgage relief that could potentially help thousands of Americans. His plan involves making refinancing more accessible to homeowners, regardless of how underwater they are. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests consumers check online rate tables to find the best rates with which to refinance their current loan (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

According to the Associated Press, while speaking in front of a home in foreclosure-stricken Las Vegas, Obama introduced a proposal which would allow certain homeowners to "refinance no matter how much their home value has dropped below what they still owe." The new plan isn't without a small set of limitations: homeowners must be current on their mortgages and it is only applicable to those loans sold to Fannie Mae or Freddie Mac by May 31, 2009. Even Obama himself admitted that his proposal is meant to help, but it will not completely resolve all the housing market issues currently at play (Source: AP).

If they are looking to refinance their current mortgage, homeowners should check online rate tables to find the best deals in their area. Websites such as ERATE.com feature tables that include some of the nation's best rates on mortgages, home equity loans, and more.

Additionally, the Federal Housing Finance Administration says that the fees associated with the HARP program will be lowered to help drive new interest in the program. As reported by MarketWatch, White House officials estimate that refinancing could save homeowners around $2,500 annually.

Follow Informa Research Services on Twitter (@InformaResearch).

Become a fan of Informa Research Services on Facebook

Permission is granted to reprint this release in part or in its entirety as long as source credit is properly listed.

About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.