http://cclifestylerealty.blogspot.com/2011/10/obama-to-promote-new-housing-aid.html
By allowing individuals that are underwater on their mortgages the ability to refinance Obama hopes to accomplish three things. First, the always loving vote come November. Second, freeing up cash that will hopefully be spent come Christmas time on gifts thereby giving the economy a small boost. Third, reduce the number of ROE's coming on the market. However, the real question is will this yield any noticeable improvement? Will there be enough home owners take advantage that the housing market and the economy receive a small kick? Personally I think it can't hurt, but when reveiwing the programs Obama and the administration has created thus far they never met their stated goals.
Only time will tell but hopefully here in Houston, Texas we see some improvement.
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