Good afternoon --
For many of us, buying a home is about more than a roof over our heads. It's the place where we'll watch our kids grow up and an investment that will guarantee our long term financial security. There's a reason that a home is an essential part of the American dream.
But right now, owning a home is a source of anxiety for millions of Americans. Last week, we heard from thousands of homeowners who are paying their bills on time but struggling and could benefit from being able to refinance their homes at historically low rates. Unfortunately, too many families who work hard and play by the rules just can't seem to catch a break. Here's what one homeowner in Mission Viejo, California told us:
Listen, people like me aren't looking for a handout. I've got decent credit and if weren't for the value of my home being significantly less than I owe, I would refinance now. If I could refinance at the historically low rates, I could do two things 1) pay off some other debt and 2) buy things I and my family need.
President Obama has proposed a plan that will cut through the red tape keeping millions of responsible homeowners from mortgage relief. It will save these folks hundreds of dollars a month -- and it's starting to get some momentum in Congress.
The President has been traveling all over the country to build support for his plan, and it's time for you to speak out with him. Add your voice to his.
If we make this happen, it's the kind of change that can have an outsized impact on the entire country. With a little extra money each month, our friends and our neighbors will be able to do more for their families. That means stronger communities and a stronger national economy.
Here's what another homeowner in Virginia told us about how this would impact not just their homes, but the entire country:
Any way that you can help the middle income people will go a long way with helping the economy. Home ownership is one of the biggest expenses people have and anything to help them reduce their payments would help immensely. The only thing is cut the red tape ...
So even if you don't own a mortgage or don't need to refinance, it's important to add your voice.
We need to show that this is the kind big, national priority that transcends petty partisanship. Republicans and Democrats alike own houses, and they call each other neighbors. It will mean good things for all of us if every responsible homeowner can get some relief.
So speak out beside President Obama. Tell us why you support refinancing, and we'll make sure your story resonates here in Washington and around the country.
We have an opportunity here, and with your help, we can make it a reality.
Senior Advisor to the President