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Obama to detail broader housing refinance plan (AP)

President Barack Obama, sitting next to Defense Secretary Leon Panetta, right, speaks during a cabinet meeting in the Cabinet Room of the White House in Washington, Tuesday, Jan. 31, 2012. (AP Photo/Susan Walsh)AP - The Obama administration is trying to fix a stubborn drag on the economy by allowing all homeowners to refinance their mortgages at lower interest rates even if they owe more than their homes are worth, tackling a difficult issue of vital concern in states key to President Barack Obama's re-election.


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