THE WHITE HOUSE

T H E P L A N TO H E L P HOMEOWNERS REFINANCE
New legislation in Congress would make it easier for millions of responsible homeowners to save hundreds of dollars each month by renancing their mortgages. Homeowners who have already taken advantage of the Home A ordable Renance Program

1.5 MILLION
Homeowners who currently qualify to benet from HARP

4 MILLION
Homeowners who would qualify to benet from HARP under the new bill

12 MILLION
MILLIONS MORE FAMILIES ELIGIBLE FOR THE HOME AFFORDABLE REFINANCE PROGRAM Expands the program to everyone with mortgages backed by Fannie Mae and Freddie Mac Rewards more responsible homeowners by making those with additional equity in their homes eligible BANK COMPETITION MEANS EVEN MORE SAVINGS FOR THOSE WHO PARTICIPATE Helps homeowners get the best rates possible from their renancing by allowing banks to compete for their business Eliminates up-front fees and appraisal costs to improve e ciency DOESNT COST THE TAXPAYERS A DIME Pays for itself through reduced default rates

REAL SAVINGS
COST OF MORTGAGE MONTHLY PAYMENTS AT 6.5% MONTHLY PAYMENTS AT 4%

REFINANCING MEANS

$200,000

$1,350

$900

$400,000

$2,700

$1,800

REFINANCING CAN SAVE AN AVERAGE FAMILY , A YEAR.

FIND OUT IF YOU QUALIFY AND LEARN MORE AT WHITEHOUSE.GOV/REFI

September 12, 2012