Dan Winslow Joins Scott Brown in Praise of Obama's Refinancing Program

State Representative Dan Winslow (R-Norfolk) joined U.S. Senator Scott Brown Monday in praising the Obama administration's decision to make home refinancing easier in the United States. 

The new program will apply to homeowners with federally guaranteed mortgages who are current on their payments.

“This plan will cut the cost of refinancing and remove caps for deeply underwater borrowers,” said Winslow.  

In January, Winslow proposed state legislation geared towards Massachusetts homeowners and small business owners to allow them to take advantage of lower interest rates. Winslow's proposal is pending in the Massachusetts House. 

"If homeowners are current in their mortgage payments at a higher rate of interest, they certainly will be a good risk to make smaller payments at a lower rate of interest," said Winslow regarding the legislation. "This program has the potential to save homeowners thousands of dollars per year and to inject much-needed disposable income into our state economy to create jobs."

Winslow called on the Massachusetts Democrats to advance his proposal, House Bill 2602, which will reinforce the federal program. 

"The Democrats in Massachusetts should follow President Obama's lead on this issue and immediately enact House 2602 so we can get Massachusetts working again," said Winslow. 

House 2602 has been co-sponsored by Republicans and Democrats and is pending in the Joint Committee on State Administration.