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Meanwhile, the administration should investigate ways to facilitate more refinancing.
To spur more refinancing, the government may decide to encourage Fannie and Freddie to lift such restrictions.
The plan also includes more refinancing options for Americans who are already saddled with student loan debt.
Mr. Donovan also mentioned the agency's efforts to encourage more refinancing at lower interest rates for borrowers who are current on their mortgage payments.
He urged lenders to offer more refinancing options and warned that foreclosures are expected to rise.
Bernanke urged lenders to offer more refinancing options, as falling home prices will continue to fuel delinquencies.
Similar(53)
"These programs helped millions stay in their homes and millions more refinance to take advantage of lower interest rates".
The owners would then sign over the deed, with Mr. Ballard either assuming their mortgage or, more often, refinancing the debt.
If their finances or jobs are tenuous, some homeowners may be more comfortable refinancing into 30-year mortgages, then making bigger payments as often as they can, Ms. McCue said.
(To read more about refinancing your mortgage, see "The True Economics Of Refinancing A Mortgage" and " Mortgages: The ABCs Of Refinancing").. Mortgage-backed security prices are highly correlated with the prices of U.S. Treasury bonds.
This is more like refinancing your mortgage".
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