President Obama reached out to the five states most affected by the housing meltdown Friday, but the gesture appears to be longer on promise than substance.
The idea is to set aside $1.5 billion in foreclosure initiatives for homeowners in Nevada, Michigan, Arizona, California and Florida. All have seen at least 20% declines in home values [...]
Obama’s Newest Initiative Helps … Well, A Few
1 Comment · Foreclosure Rates in USA, Preventing Foreclosure
Tags: bailout·foreclosure·foreclosure initiative·foreclosures·unemployment
Obama Considering Rent to Own Mortgages for Unemployed
2 Comments · Preventing Foreclosure
As if the Government under Obama hasn’t spent enough virtual taxpayer money, the Obama administration announced a new way to help unemployed homeowners stay in their homes… Rent to Own!
According to a Reuters article:
Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for [...]
Tags: foreclosure plan·unemployment