President Barack Obama and his administrative cabinet are attempting to keep more people in their homes by lowering the monthly payment on the home owner's loan. One of the champagne topics Obama showed concern about when he was seeking election as the president of The United States; was to help American keep the dream of homeowner ship alive. His administration is pressing the mortgage companies on helping people stay in their homes.
Reports from the Mortgage Bankers Association released last week, show 14 percent of home owner's are either behind in payments or entering into foreclosure, for the ninth straight quarter. It has also been suggested that homeowner;s who have a conventional or fixed rate mortgage is threatening foreclosure.
Unemployment which hit a 26 year high of 10.2 percent seems to be the cause for the mortgage defaults. Although, there are no programs to assist the unemployed with their mortgage payments, many private lenders are adjusting payments on loans for home owner's in fear of losing their homes.
The Obama administration will be announcing an expansion attempt that would produce more aid to struggling home owner's and expand the number of organizations providing help.
http://www.msnvc.msn.co./id/34189229/ns/business-economy_at_a_crossroads
Smell the Roses
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Does anyone personaly know anyone these funds have helped? Personaly I know of people who could have used this funding. They never found any. Now, their families live in different homes. The newpapers tell of all the great programs that were created to stop this. Has anyone actually seen them help anyone? Just wondering...
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