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President Barack Obama held up a piece of paper and told the audience that "this is what a mortgage form should look like. This is it," he said to applause during his speech at the James Lee Community Center in Falls Church on Wednesday, Feb 1.

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President Announces Homeowners Bill of Rights

Local homeowners, housing advocates say president’s plan gives homeowners important safeguards.

Tina Kotson of Springfield, a homeowner of five years, said she thought it would be fairly easy to refinance her current 5.65 percent mortgage and take advantage of today’s lower rates.

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