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White House to Push for Mortgage Refinancing Program

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  • Description

    FBN’s Peter Barnes on the Administration’s efforts to help the housing market.

  • Duration 1:04
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A new government program can help housing is in the works even though the previous farmers and had little impact on the housing market Peter Barnes is in DC with the exclusive -- Peter what's different about this -- Well then head and -- are actually some all the stuff kind but amp up here sources say the White House is planning a big question next month to expand.

Existing government mortgage refi programs the president announces -- in a State of the Union Address in January but now.

Senate Democrats have produced three bills that the administration says.

What offer millions more homeowners lower interest rates on their mortgages and other -- would be done.

To the FHA Fannie Mae and Freddie Mac and administration official says the senate bills would be paid for mainly.

Through higher closing costs and fees for borrowers though one program would require four billion dollars in funding from congress now the administration's been ramping this up with an online push and through social media.

But now expect to see the president follow up at campaign events next month to put pressure on Republicans to support the legislation David in -- Thank you Peter Barnes --

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