HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Obama Holds News Conferen...
Introducing Discussionist: A new forum by the creators of DU

Tue Mar 6, 2012, 06:36 AM

Obama Holds News Conference, Unveils Housing Plan

http://abcnews.go.com/Politics/wireStory/obama-hold-news-conference-year-15855181#.T1X2kjLKu30

President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration's latest efforts to address a persistent housing crisis.

In his first full news conference of the year Tuesday, Obama was to announce plans to let borrowers with mortgages insured by the Federal Housing Administration refinance at lower rates, saving the average homeowner more than $1,000 a year. Obama also was detailing an agreement with major lenders to compensate service members and veterans who were wrongfully foreclosed upon or denied lower interest rates.

A senior administration official described Obama's proposals to The Associated Press on the condition of anonymity to discuss them ahead of the announcement.

Obama is holding the news conference in the midst of a modestly improving economy. But international challenges as well as a stubbornly depressed housing market remain threats to the current recovery and to his presidency.

2 replies, 715 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply Obama Holds News Conference, Unveils Housing Plan (Original post)
steve2470 Mar 2012 OP
2pooped2pop Mar 2012 #1
blogs Mar 2012 #2

Response to steve2470 (Original post)

Tue Mar 6, 2012, 07:01 AM

1. the market cannot repair

as long as these foreclosures continue. Empty houses everywhere. If the lenders worked out new agreements with the homeowners allowing them to stay and get back on track, this would not have gone down so far. Now there are so many homes just sitting that they are selling for less than half of their former value.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to steve2470 (Original post)

Tue Mar 6, 2012, 07:24 AM

2. obama

 

I also appreciate the Obama style of doing things, is also expected to he can lead good his country prosperous step by step.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread