DeKalb County and Obama Administration Officials Host Housing Refinancing Roundtable

Left to right: Mr. Phil Cottone, GA Dept. Communities Activities, John O' Callaghan, Pres. Atlanta Neighborhood Development Partnership, Reverend Dr. Victor Belton and Ed Jennings, Jr., HUD SE Regional Administrator.

Recently DeKalb County officials hosted the DeKalb County Housing Refinancing Roundtable in Decatur. The primary goals of the roundtable were to identify impediments and provide solutions to the White House Officials concerning homeownership preservation and also to learn more about the pending legislation related to helping all qualified underwater homeowners.

"DeKalb County under the extraordinary leadership and vision of County Commissioner Burrell Ellis is commended for hosting this Refinance Roundtable," said White House senior representative and HUD Southeast Regional Administrator Ed Jennings Jr. "Focusing on what is available and has been successful for homeowners to address homeownership preservation issues and what impediments need to removed helps the Administration better level the playing field."

More than two dozen local area community leaders and housing professionals participated in the refinance roundtable meeting to share success stories, impediments and offer solutions to send to the Obama Administration.

In 2009, the Administration launched the Home Affordable Refinance Program (http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx). According to White House officials, nearly one million homeowners were able to refinance and save thousands of dollars under the program.

Last year, the Obama Administration unveiled several refinancing options to help homeowners take advantage of historically low interest rates. Proposed federal mandates aimed at speeding the mortgage refinance process, removing barriers and rebuilding equity included the:

• Responsible Homeowner Refinancing Act (S. 3085) (http://thomas.loc.gov/cgi-bin/bdquery/z?d112:s.3085:)
• Expanding Refinancing Opportunities Act (S. 3047) (http://thomas.loc.gov/cgi-bin/bdquery/z?d112:s.3047:)
• Rebuilding Equity Act (S. 2909) (http://thomas.loc.gov/cgi-bin/bdquery/z?d112:s.2909:)

Housing refinance roundtable meetings are being hosted throughout the Southeast and nationwide hosted by city and or community leaders to address the issues facing homeownership preservation and to better understand the significance of the proposed legislative changes aimed at providing equal access to historical low interest rates for all qualified homeowners.

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