STOCK MARKET WATCH -- Wednesday, 7 March 2012

[Demeter]

26. Obama offers mortgage relief to millions of homeowners

YEAH, YEAH, JUST PULL THE OTHER ONE, TOO, WHILE YOU'RE AT IT. I LIKE MY LEGS TO BE EQUAL LENGTH...

http://www.reuters.com/article/2012/03/06/us-usa-housing-idUSTRE8211OO20120306

President Barack Obama announced on Tuesday a cut in fees on many government-backed mortgages that he said could help millions of homeowners refinance, part of an election-year push to boost the shaky U.S. housing market.

Under the plan, a typical borrower with a loan backed by the Federal Housing Administration could save a thousand dollars a year by refinancing into a new FHA loan, the White House said. The fee reductions would be on top of any savings from a lower interest rate.

Two million to three million borrowers would be eligible, although the White House said participation would more likely number in the "hundreds of thousands."...