APRIL 9, 2009, 8:15 P.M. ET
Obama for Change (In Your Mortgage)
By JOHN D. MCKINNON WASHINGTON — WALL STREET JOURNAL ARTICLE
President Obama called for millions of Americans to refinance their homes, in his latest turn as salesman-in-chief for the administration’s economic policies. In a White House event aimed at building on recent hopeful signs in the housing market and economy, Mr. Obama urged Americans to take advantage of current low mortgage rates, so they can stay in their homes and spend more on other needs. Getty Images REFINANCE NOW! President Obama speaks about the impact of historically low interest rates on Thursday at the White House.
He estimated 7 million to 9 million people could refinance, saving $1,600 to $2,000 a year. “That is money in their pocket,” he said. “We are at a time where people can really take advantage of this, and what we want to do is to send a message that if you are having problems with your mortgage — and even if you’re not, and you just want to save some money — you can go to www.makinghomeaffordable.gov.