Obama plans small-business lending boost.

Seeking to counter a chorus of unhappy Republicans and nervous Wall Street investors, President Barack Obama and his economic team are taking a cheerier tone while making billions in federal loans available to the nation’s struggling small businesses.

Obama and Treasury Secretary Timothy Geithner on Monday planned to announce a broad package that includes reduced small-business lending fees and an increase on the guarantee to some Small Business Administration loans. A day earlier, the president’s advisers said in television interviews that they remained confident in the nation’s economic fundamentals, at times adopting upbeat rhetoric the president once mocked.

“The fundamentals are sound in the sense that the American workers are sound, we have a good capital stock, we have good technology,” said Christina Romer, who heads the White House Council of Economic Advisers.

Who can benefit from Refinancing Relief?

The Homeowner Affordability and Stability Plan and
How You Might Qualify

As lenders evaluate the loans in their portfolio to determine eligibility for the program, a good way to evaluate if you qualify for refinancing is to monitor your credit.  Since you don’t know which of the 3 major credit bureau reports lenders are going to look at to evaluate it, check all three. With 3-Bureau Credit Monitoring you’ll know you’re doing everything you can to ensure your eligibility for refi relief.

How can the refinancing portion of the plan help you?

• If you’re a borrower who has been current on your mortgage payment but can’t refinance because your home has lost value, you might be able to refinance into a 30 or 15-year fixed rate loan. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.
• If you owe more than your property is worth, you might qualify to refinance if your new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.