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Seeking to tackle “a crisis unlike any we’ve ever known,” President Barack Obama unveiled an ambitious $75 billion plan Wednesday to keep as many as 9 million Americans from losing their homes to foreclosure.
MESA, Ariz. – President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure Wednesday, declaring an urgent need for drastic action — not only to save their homes but to keep the housing crisis “from wreaking even greater havoc” on the broader national economy. The lending plan, a full $25 billion bigger than the administration had been suggesting, aims to prevent as many as 9 million homeowners from being evicted and to stabilize housing markets that ar
Here’s what’s in Obama’s home foreclosure plan for you President Barack Obama unveiled a $75 billion federal plan to ease the epidemic of home foreclosures on Wednesday, casting it as not just a bailout for as many as 9 million homeowners but a means for ending the downward spiral of the economy. Who will benefit from this plan? The plan is designed to help two kinds of homeowners. The first are homeowners who took out prudent mortgages with a substantial downpayment but whose home value has
U.S. President Barack Obama on Wednesday revealed a mortgage relief plan in an effort to prevent more Americans from losing their homes. The plan is expected to help between 7 million and 9 million American families to avoid foreclosure, said the president in an address in Mesa, Arizona. “And we are not just helping homeowners at risk of falling over the edge, we are preventing their neighbors …
President Barack Obama sets out to tackle the nation’s burgeoning foreclosure crisis Wednesday, and few areas need help more than South Florida.
