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Homeowners at Risk of Default or Foreclosure

mortgage default According to what President Obama said in Mesa, AZ on Wednesday, February 18, 2009, “In the end, all of us are paying a price for this home mortgage crisis. And all of us will pay an even steeper price if we allow this crisis to continue to deepen. But if we act boldly and swiftly to arrest this downward spiral, every American will benefit.”

President Obama took two huge steps forward in his campaign this past week to heal the housing crisis for homeowners. Exactly what does that mean to those that have defaulted already? Will it help those that face foreclosure or potentially default on their loans?

So much conflict on who the Homeowner Affordability and Stability Plan will benefit. Who doesn't get relief and who will? How will the money be spent and will it be wasted?

Posted by Gilbert Arizona Real Estate - Candace Robinson on 02/21/2009 04:00 AM

Comments (5)

Help for Homeowners in Trouble in the Mortgage / Finance Channel

foreclosure, barack obama, housing crisis, default, stimulus plan

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5 Comments on Homeowners at Risk of Default or Foreclosure

FEB

I'm waiting to see what Congress will do with his proposals.

It will be interesting to see what makes it through and who exactly will get help and who wont. Since we are paying maybe we should decide.

Lenn - It will interesting no less! Hope all is well.

Laura - I'm sure that it's pretty clear that those that had any shadey dealing on loans won't be in line for a fix. But the question I'm left with, "How will they get into the nitty gritty and check every bad deals details' and sift out those that won't get the help?" I'm sure it won't be the investors from what I'm hearing. This will be interesting to see where it all falls and if IT HELPS! *Thinking*

I am guessing the mortgage companies will take a whlie before they know what they will do to help home owners.

FEB

Does it ever seem, Candace, that the more "answers" we get from our government leaders in recent times, the more questions we have that go unanswered? I honestly don't think they have a clue what's going to happen. Feels more like a chemistry experiment where they just keep adding a little of this, a bunch of that, and we're all waiting to see if anything happens! ;-)