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10/14/2011 - We the People Petition on Home Refinancing

I posted a "We the People" petition on the White House site.

Text of petition follows.

We petition the Obama administration to:

Make the Federal Housing Finance Agency (FHFA) remove the barriers to refinancing Fannie Mae and Freddie Mac loans.

Homeowners who are current in their mortgage payments should be able to refinance their mortgages, no mater how far underwater they are.

In the Joint Session of Congress on 9/8/2011 the President said; "To help responsible homeowners, we're going to work with federal housing agencies to help more people refinance their mortgages at interest rates that are now near 4 percent"

But in a recent meeting with members of Congress and Edward DeMarco, the acting director of the FHFA, it's clear that a monumental push is required by the President to prevent this opportunity from being bureaucratically dragged into oblivion.

It's time to act Mr. President. Get Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan in your office and tell them to just do it!

Click here to sign the petition.

Peter Schulz - Editor - Email TCM

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