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By JIM KUHNHENN | Associated Press – 5 hrs ago
WASHINGTON (AP) — President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration's latest efforts to address a persistent housing crisis.
In his first full news conference of the year Tuesday, Obama was to announce plans to let borrowers with mortgages insured by the Federal Housing Administration refinance at lower rates, saving the average homeowner more than $1,000 a year. Obama also was detailing an agreement with major lenders to compensate service members and veterans who were wrongfully foreclosed upon or denied lower interest rates.
Really, we apparently are that stupid.
Posted by Foon Rhee, deputy national political editor February 18, 2009 04:05 PM
Warning that the housing crisis "strikes at the heart" of the American Dream, President Obama today laid out a $75 billion plan to help as many as 9 million homeowners refinance or restructure their mortgages.
The proposal -- more ambitious and expensive than expected -- is designed to assist 4 million to 5 million homeowners to refinance their mortgages to get lower payments, and to provide subsidies to lenders to lower the monthly payments of another 3 million to 4 million homeowners at risk of defaulting on their mortgages.
Warning that the housing crisis "strikes at the heart" of the American Dream, President Obama today laid out a $75 billion plan to help as many as 9 million homeowners refinance or restructure their mortgages.
The proposal -- more ambitious and expensive than expected -- is designed to assist 4 million to 5 million homeowners to refinance their mortgages to get lower payments, and to provide subsidies to lenders to lower the monthly payments of another 3 million to 4 million homeowners at risk of defaulting on their mortgages.
Posted: Feb 19, 2010 5:25 AM PST Updated: Feb 19, 2010 3:17 PM PST
LAS VEGAS -- Nevada continues to lead the country in foreclosures. In his stop to Las Vegas, President Barack Obama announced more money is on the way to help struggling homeowners. In Las Vegas, more than half of the homeowners are currently upside-down on their homes.
"I'm announcing a $1.5 billion fund for housing finance agencies in the states that have been hardest hit by this housing crisis. That means here in Nevada," he said.
LAS VEGAS -- Nevada continues to lead the country in foreclosures. In his stop to Las Vegas, President Barack Obama announced more money is on the way to help struggling homeowners. In Las Vegas, more than half of the homeowners are currently upside-down on their homes.
"I'm announcing a $1.5 billion fund for housing finance agencies in the states that have been hardest hit by this housing crisis. That means here in Nevada," he said.
WASHINGTON | Fri Feb 11, 2011 6:02pm EST
(Reuters) - The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.
In a long-awaited move, the White House offered three big-picture options for overhauling a $10.6-trillion market that cratered in 2008, triggering a wave of home foreclosures and the worst banking crisis since the Great Depression.
All the alternatives sketched out in a 31-page "white paper" would unwind the troubled mortgage titans Fannie Mae and Freddie Mac and shrink the government's market footprint to allow private capital to step in.
(Reuters) - The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.
In a long-awaited move, the White House offered three big-picture options for overhauling a $10.6-trillion market that cratered in 2008, triggering a wave of home foreclosures and the worst banking crisis since the Great Depression.
All the alternatives sketched out in a 31-page "white paper" would unwind the troubled mortgage titans Fannie Mae and Freddie Mac and shrink the government's market footprint to allow private capital to step in.
Posted: Oct 24, 2011 7:31 PM PDT Updated: Oct 24, 2011 7:47 PM PDT Posted By Craig Huber, Web Managing Editor - email
Submitted By MaryAnn Martinez, Reporter - bio | email
Nevada's highest-in-the-nation foreclosure rate served as a backdrop to President Obama's new plan Monday.
It's aimed at helping homeowners who are under water on their mortgages.
President Obama visited a neighborhood in Sunrise Manor where many home are foreclosed or owners owe much more than the home is worth.
It's not every day the President of the United States blocks your driveway. Residents of Sunrise Manor first heard the president would be in their neighborhood late last week.
As excited as they were to see him, neighbors told FOX5 they wish he had come with the same message sooner.
Residents cheered as the president's motorcade rolled up to Placita Avenue. President Obama met with the Bonillas. The family took part in a federal grant program that helps low to moderate income families move into homes that have been foreclosed.
Submitted By MaryAnn Martinez, Reporter - bio | email
Nevada's highest-in-the-nation foreclosure rate served as a backdrop to President Obama's new plan Monday.
It's aimed at helping homeowners who are under water on their mortgages.
President Obama visited a neighborhood in Sunrise Manor where many home are foreclosed or owners owe much more than the home is worth.
It's not every day the President of the United States blocks your driveway. Residents of Sunrise Manor first heard the president would be in their neighborhood late last week.
As excited as they were to see him, neighbors told FOX5 they wish he had come with the same message sooner.
Residents cheered as the president's motorcade rolled up to Placita Avenue. President Obama met with the Bonillas. The family took part in a federal grant program that helps low to moderate income families move into homes that have been foreclosed.
By JIM KUHNHENN | Associated Press – 5 hrs ago WASHINGTON (AP) — President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration's latest efforts to address a persistent housing crisis.
In his first full news conference of the year Tuesday, Obama was to announce plans to let borrowers with mortgages insured by the Federal Housing Administration refinance at lower rates, saving the average homeowner more than $1,000 a year. Obama also was detailing an agreement with major lenders to compensate service members and veterans who were wrongfully foreclosed upon or denied lower interest rates.