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The Obama Administration may propose a plan to allow allow millions of homeowners with government-backed mortgages to refinance them at about 4 percent.

The plan could save homeowners as much as $85 billion each year, TheDailyBeast.com reports.

The proposal is likely, however, to face fierce resistant from Fannie Mae and Freddie Mac’s regulator and investors in government-backed mortgage bonds.

Read more at TheDailyBeast.com


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