Obama administration reportedly considers refinancing plans

12/25/2012 | Wall Street Journal, The

Sources say that the Obama administration is looking at plans to offer mortgage-refinancing programs to borrowers who owe more than their homes are worth and who don't have plans backed by the U.S. government. At the end of June, about 22% of all homes with a mortgage -- about 10.8 million homes, down from 12.1 million at the end of 2011 -- were worth less than what borrowers owed.

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Wall Street Journal, The

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