Archive of posts tagged President Obama

More mortgage relief from the White House – but congressional ‘ok’ doubtful

Posted by on

An summary update (by CAR.org) on the mortgage relief plan by the federal government, covering an article by The Mercury News: In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Details of that plan were released yesterday. However, funding for the …

Continue reading ‘More mortgage relief from the White House – but congressional ‘ok’ doubtful’ »

Federal refinance plan in the works for underwater borrowers?

Posted by on

It looks as if a federal plan is in the works to help underwater borrowers with mortgages not backed by Fannie Mae or Freddie Mac.  The proposal, outlined in President Obama’s State of the Union address, would help millions of homeowners in America.  Borrowers would need a minimum credit score of 580 to be eligible.  …

Continue reading ‘Federal refinance plan in the works for underwater borrowers?’ »

Obama’s Investigative Unit: Absolving Iniquities or Slowing Progress?

Posted by on

New York Attorney General Eric Schneiderman has reportedly been designated a co-chair of President Obama’s newly announced investigative team to probe the mortgage industry for past misconduct. In his State of the Union address this week, Obama announced the creation of “a special unit of federal prosecutors and leading state attorneys general” to examine the …

Continue reading ‘Obama’s Investigative Unit: Absolving Iniquities or Slowing Progress?’ »

Distressed Real Estate Makes Its Way Into Obama’s Jobs Plan

Posted by on

In addition to refinancing assistance for mortgage holders, President Barack Obama’s proposed American Jobs Act includes a handful of elements that relate to the distressed real estate market, all part of what the administration has labeled Project Rebuild. The new $15 billion program is based on the Neighborhood Stabilization Program (NSP)… Read more about this …

Continue reading ‘Distressed Real Estate Makes Its Way Into Obama’s Jobs Plan’ »