fannie mae

Obama Housing Plan: Live Blogging Summary

Wednesday, February 18, 2009

President Obama just spoke before a crowd in Mesa, AZ, unveiling his $75B foreclosure crisis plan. Here’s a play-by-play of the speech: This is a “crisis unlike any we’ve ever known.” Families can’t afford to leave, but can’t afford to stay. 6 million homes in foreclosure or at risk of foreclosure across the US. Study in Chicago found that [...]

President Obama’s $75 Billion Foreclosure Plan

Wednesday, February 18, 2009

1 Comment

First news on MarketWatch on Obama’s plan to help halt foreclosures. There are two programs. One to help 4-5m struggling home owners with loans owned or guaranteed by Fannie Mae or Freddie Mac to help them refinance. The other is a loan modification plan with government subsidies to lenders to reduce their monthly interest payments. Lenders responsible for [...]