President Barack Obama on Tuesday proposed and outlined a broad overhaul of the nation's mortgage finance system, including winding down government-backed Fannie Mae and Freddie Mac. He declared that taxpayers should never again be left "holding the bag" for the mortgage giants' bad bets. The president said sweeping housing reforms are still needed to ensure that a rejuvenated market doesn't simply "re-inflate the housing bubble." The cornerstone of that effort is winding down Fannie Mae and Freddie Mac, a proposal with bipartisan support in the Senate.Get your FREE Quote Now!
While the president has previously endorsed overhauling Fannie and Freddie, his remarks Tuesday marked the first time he outlined his specific proposals for doing so.
The president wants to replace Fannie and Freddie with a system that would put the private sector, not the government, primarily at risk for loans. The government would still be involved, both in oversight and as a last-resort loan guarantor.
Obama is also seeking guarantees that a private sector-led mortgage finance system would still ensure wide homeowner access to popular 30-year mortgages at fixed rates.
Outdoors and general curb appeal items provide the best return on investment in the Philadelphia market. But don’t forget about the indoors, a kitchen remodel is still one of the top items in terms of return on investment. According to a nation study here are some potential cost and pontential returns on home improvements.
Garage Door replacement
Potential Cost: $1,547Potential Return: $1,104
Vinyl Siding Replacement
Potential Cost: $11,860Potential Return: $8,329
Minor Kitchen Remodel
Potential Cost: $19,400Potential Return: $12,843
Wooden Deck Addition
Potential Cost: $9,958Potential Return: $6,914Get your FREE Quote Now!
When is the right time to refinance? If you’re current mortgage rate is in the mid 4’s or higher or if you are currently in an adjustable rate mortgage, or if you are considering shortening your mortgage term, then you may want to consider your refinance options. Mortgage rates are at historic lows and have been for some time due to the Fed’s purchase of mortgage backed securities. Get your FREE Quote Now!