Columbia Mayor Steve Benjamin

Recently, Mayor Steve Benjamin hosted the first regional refinancing roundtable to take place in the Midlands. The meeting was held at EdVenture Children’s Museum. The roundtable, facilitated by Region IV Administrator US Department of Housing and Urban Development (HUD), Ed Jennings and Larry Knightner, director of the SC Field Office US Department of HUD, highlighted resources available to the community to assist responsible homeowners with refinancing options.

Several stakeholders and community leaders gathered together to discuss how to streamline the refinancing process to help homeowners who are underwater due to the downturn in the housing market rebuild equity quickly. The group also debated how to remove barriers to refinancing for borrowers with government-sponsored guaranteed loans.

“[It] is about joining together to support this national White House initiative helping responsible homeowners refinance their mortgages,” said Mayor Benjamin. “While foreclosure rates continue to rise across our state, here in Columbia they’re on the decline. I’m proud of that fact, but I know we can do even more.”

Benjamin added, “By working together, I know that we can build upon that momentum so our hard working families can stop struggling with yesterday’s crisis and start planning for a stronger and brighter tomorrow.”

White House officials have outlined plans, which are working their way through Congress, to help homeowners with low credit scores - who are current but struggling to pay their mortgages - refinance at lower interest rates, lower their payments or help put more equity in their house.

For more information on the programs, tools and tips on home ownership and mortgage refinancing discussed, visit www.MakingHomeAffordable.gov and www.hud.gov.