President To Unveil Housing Initiatives

Washington, DC, March 6, 2012 -- Media reports indicate that President Barack Obama will announce housing initiatives to help members of the military as well as homeowners whose mortgages are insured by the Federal Housing Administration.

Obama, in a press conference today, will detail the housing effort plans.

FHA-insured borrowers would reportedly be able to refinance their loans at half the fee that the FHA currently charges. That could save a typical FHA borrower more than $1,000 annually. Two million to 3 million borrowers would be eligible.