White House file photo...
Wednesday, February 18, 2009
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President Obama today will unveil a $75 billion foreclosure prevention program, which the administration expects to reach up to 9 million homeowners… "The plan I'm announcing focuses on rescuing families who have played by the rules and acted responsibly: by refinancing loans for millions of families in traditional mortgages who are underwater or close to it," Obama will say at a speech in Mesa, Ariz., according to an advance text released by the White House… The Homeowner Affordability and Stability Plan includes measures to allow homeowners to refinance into loans with cheaper payments, according to a summary of the plan. For example, if a lender agrees to lower a borrower's payment so that it comprises no more than 38 percent of his income, the government would pay to lower the payments further to 31 percent of income. The aim would be to make the payments affordable…
Read the full report at link below…
$75B Program Aims to Lower Mortgages, Foreclosures
Read the full report at link below…
$75B Program Aims to Lower Mortgages, Foreclosures
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The following is from the White House Blog
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Help for homeowners
Wednesday, February 18, 2009
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The following is from the White House Blog
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Help for homeowners
Wednesday, February 18, 2009
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The President’s strategy for economic recovery is a stool with several legs, as he’s said, and one of them is solving the foreclosure crisis.
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"We must stem the spread of foreclosures and falling home values for all Americans, and do everything we can to help responsible homeowners stay in their homes," he said yesterday as he signed the American Recovery and Reinvestment Act into law.
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Though communities across the country have been affected by the crisis, Arizona has been hit particularly hard -- in 2008, only two states had more foreclosures.
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And President Obama is there today, in Phoenix, to unveil his "Homeowner Affordability and Stability Plan," which will help bring relief to homeowners and bring some order to the housing market.
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The President will talk more about his plan a little later today. In the meantime, we’re sure you have a lot of questions, like, Am I eligible for assistance? Might I be able to modify my loan? When do I apply? We've put together an example sheet that will show you what options might be available to you, depending on the circumstances of your mortgage, as well as answers to some common questions (below)...
The President’s strategy for economic recovery is a stool with several legs, as he’s said, and one of them is solving the foreclosure crisis.
.
"We must stem the spread of foreclosures and falling home values for all Americans, and do everything we can to help responsible homeowners stay in their homes," he said yesterday as he signed the American Recovery and Reinvestment Act into law.
.
Though communities across the country have been affected by the crisis, Arizona has been hit particularly hard -- in 2008, only two states had more foreclosures.
.
And President Obama is there today, in Phoenix, to unveil his "Homeowner Affordability and Stability Plan," which will help bring relief to homeowners and bring some order to the housing market.
.
The President will talk more about his plan a little later today. In the meantime, we’re sure you have a lot of questions, like, Am I eligible for assistance? Might I be able to modify my loan? When do I apply? We've put together an example sheet that will show you what options might be available to you, depending on the circumstances of your mortgage, as well as answers to some common questions (below)...
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For Immediate Release
February 18, 2009
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For Immediate Release
February 18, 2009
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REMARKS BY THE PRESIDENT ON THE HOME MORTGAGE CRISIS Dobson High SchoolMesa, Arizona
10:25 A.M. MST
Read the full transcript HERE
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9 million +
The housing plan President Obama unveiled today could directly help up to 9 million people -- but indirectly, it will help all of us…
Read more at the White House Blog...
Read the full transcript HERE
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9 million +
The housing plan President Obama unveiled today could directly help up to 9 million people -- but indirectly, it will help all of us…
Read more at the White House Blog...
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Obama Unveils $75 Billion Mortgage Relief Plan
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Obama Unveils $75 Billion Mortgage Relief Plan
About this News Video: President Barack Obama unveiled his $75 billion mortgage relief plan, a series of measures the president says will keep 9 million people from losing their homes. (Feb. 18)
This News Video posted on YouTube by AssociatedPress
This News Video posted on YouTube by AssociatedPress
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AubreyJ………
AubreyJ………
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