President Obama, Treasury Secretary Tim Geithner, and Housing and Urban Development Secretary Shaun Donovan Unveil The Homeowner Affordability and Stability Plan
The Homeowner Affordability and Stability Plan is part of the President's broad, comprehensive strategy to get the economy back on track. The plan will help up to 7 to 9 million families restructure or refinance their mortgages to avoid foreclosure. In doing so, the plan not only helps responsible homeowners on the verge of defaulting, but prevents neighborhoods and communities from being pulled over the edge too, as defaults and foreclosures contribute to falling home values, failing local businesses, and lost jobs.
Executive Summary
Source: Dept. of Treasury
4 comments:
This imbecile forgets that home prices have dropped in some places more than 50%
Yes TGCN but also Obama is combing through all the homes to make sure those who couldn't afford the home in the first place don't get help or those who brought homes to flip for profit. Only those who actually qualified and those struggling now with the recession. Included are those who took out a second mortgage and got robbed.
That blowhard also needs to take into consideration how long people have been out of work, many people had no problems affording their homes until their job of many years went ka poot and they have had to pay Cobra, and live on unemployement or took a job paying a lot less.
My mortgage broker friends said more people got in trouble over a job loss followed by high Cobra payments, and finally taking a job for a lot less pay.
TGCN yup same here in Ohio...the cities are nearly empty and the suburbs not far behind them...
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