President Obama Wants To Further Increase FHA Refinance Rescue For Non-Ailing Borrowers

`` the President's plan is to further expand the current program already in place to help borrowers with federally backed mortgage refinances. Because of complicated applications, eligibility restrictions, required appraisals and lack of competition amongst lenders, many borrowers are unable to take advantage of the existing program. The new plan would remove many of these barriers, as well as, allow all borrowers who are current on their Fannie Mae or Freddie Mac mortgages to refinance even if they are not underwater.''