5. Mr. Obama earlier this month announced plans to save homeowners $900 a year. Under the plan, the Federal Housing Administration mortgage premium will drop from 1.35 percent to 0.85 percent. In addition to the 250,000 new home buyers the White House hopes to attract — a figure that marks a modest increase in sales — administration officials said the rate cut would help 800,000 homeowners refinance their mortgages. My house is paid for now, again no help for me.