Obama proposed to cut refinance fees on FHA loans in half today. Problem with that is it does nothing to help someone who is in a financial bind. The person it would help is someone who has a good paying job and just wants to refinance at a lower rate. It doesn't help someone who is about to lose their home to foreclosure, has lost their job, or is buried in debt. Obama doesn't offer to increase the debt to income ratio. He doesn't offer to let them refinance without re qualifying as they do on VA refis. The borrower would have to owe less than the value of the property and have good credit. And have a job. So this is just another attempt to appear like he cares about the Poor. The poor receives no benefit from this. There are no guarantees that anyone will even qualify for the proposed program.