Will a Veto Save Refinance Program?

When I first read that the house was going to veto the program to help underwater home owners I was very concerned. Many Asheville Home owners that need this assistance may not have it available in the near future. However to date only 63 underwater home owners have been helped.

So last week when the House Financial Services Committee voted to end the Federal Housing Administration Refinance Program, helping 63 underwater home owners modify their mortgages into more affordable FHA-insured loans I would have to agree that it does not seem to be working according the Republicans.

 "This program offers a cost effective approach to assisting underwater borrowers and will lead to sustainable long term home ownership," the White House budget office said in a statement.

I hope when this program ends the house will come up with a better program to help more families that are in need of assistance.