President Obama to Announce new Help for Homeowners on Wednesday!*
Good news for homeowners - President Obama will announce a plan to help homeowners facing foreclosures in a speech on Wednesday in Arizona. In the meantime, some lenders decided to temporarily halt foreclosures on a homeowner's primary residence. The Obama administration is working to craft a comprehensive plan to help stabilize the financial system by helping to halt foreclosures. One aspect of the plan will fund a program to buy up bad mortgages at a discounted price and provide subsidies to prop up homeowners who are hard pressed to make their payments. The plan is proported to includes a nationwide standard method for modifying loans to make them more affordable. This plan to prevent foreclosures is part of a larger package of economic stimulus legislation. For more information, check out the full news article. Link to Video: CNBC Panel Discussion
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