President Obama’s plan to tackle housing crisis
November 6th, 2008 | by Marina |In midst of nation’s financial crisis a ray of hope has emerged with Barack Obama being elected as the nation’s 44th President.
The President’s immediate focus is on deciding how to implement the $700 billion rescue program which the Congress had passed in October. He has proposed a 90-day foreclosure moratorium for homeowners “acting in good faith.” He has also called for reform in the bankruptcy law that would let bankruptcy judges reduce mortgage principals for bankruptcy filers. He has plans to increase penalties and law enforcement to fight mortgage fraud.
5 Responses to “President Obama’s plan to tackle housing crisis”
By Ken on Jan 23, 2009 | Reply
All this talk about helping to stop foreclosers is Bull. Obama is giving all the money directly to the banks with the hope the bankers will help people / family’s in need . Banks only help the ones that can help them. I don’t think for a minute that the banks will help mortgage payers by lowering payments to fit the home owners budget. Obama missed the boat here, Big Time, if he doesn’t fix this. Same old Same old.
Ken in Boston
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