Senators call for swift action to help homeowners refinance
U.S. Sens. Barbara
Boxer (D-CA), Johnny Isakson (R-GA), and Robert Mendendez (D-NJ) have joined 13
of their colleagues in urging the Obama administration to quickly implement
administrative reforms to help responsible homeowners refinance and take
advantage of today’s record low interest rates.
With interest rates at
an all-time low of 3.94 percent, the Senators encouraged federal housing
regulators to take immediate steps to lower the barriers that have kept
borrowers trapped in higher interest loans as well as to address other hurdles
that have limited the success of current refinance programs.
In a bipartisan letter
to top administration officials, the senators wrote, “Time is of the essence
and we urge you to act quickly and aggressively to ensure that responsible
homeowners receive the full benefit of these lower rates.”
To read more of the
letter, please visit http://boxer.senate.gov/en/press/releases/101111.cfm