The Obama administration. to address the mortgage crisis as home prices plunged. Officials said the new initiatives will take effect over the next six months and be funded out of $50 billion.
President Obama outlined his plan to offer hundreds of thousands of Americans mortgage relief today, test-driving a new campaign slogan and arguing that "We can’t wait" for Congress to act.
The lawmakers – encouraged by Obama’s mention of mortgage relief in his address to Congress last week – were quickly deflated just days later when their efforts to learn the details of the White House.
Some ideas, such as providing mortgage relief for struggling homeowners. but they also recognize the need to develop a long-term plan to reduce the deficit.” obama faces pressure from his own base.
MSNBC: President Barack Obama marshaled $75 billion on Wednesday to tackle the foreclosure crisis in an effort to prevent up to 9 million Americans from losing their homes. Obama announced his plan in.
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The plan commits $275 billion in government funds to the effort and. U.S. Treasury: Examples Of How Mortgage Relief Would Work (PDF).
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Obama Unveils Mortgage-Relief Plan President Barack Obama unveiled a $75 billion plan Wednesday to help up to 9 million homeowners avoid foreclosure. He made the announcement in suburban Phoenix,
The US Treasury today released details on the "Making Home Affordable" program announced by President Obama here in Phoenix on Feb 18. Dubbed the "Mortgage Rescue" , "Homeowner Affordability and Stability Plan", "Homeowner Bailout" and various other names in the press, the official program name is now the "Making Home Affordable" (MHA)program.
Obama’s Mortgage Assistance Plan – Government Mortgage – President Obama’s mortgage relief program is now reaching 20% of those eligible for the program, or 650,000 borrowers, according to a new government report. More than 650,000 people have signed up for trials that will last at least five months, according to the Treasury Department.
The Obama administration announced. to skip payments altogether under the plan. The new push takes direct aim at the major cause of the current wave of foreclosures: the spike in unemployment.
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