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Walker Recall Effort Struggles To Gain Momentum
Controversial Book On Obama Appears To Have Lifted Key Quote
Home Affordable Modification Program
House Votes to End Mortgage Reduction Program
By not in system - AOL NewsWASHINGTON -- House Republicans pushed through legislation Tuesday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure. Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen short of original goals, protested the vote to kill it. The White House, in a statement, said that if the bill ever reaches President Barack Obama's desk, his senior advisers would recommend he veto it. The vote was 252-170. The GOP-led House this month has voted to kill three ...
White House Moves to Ward Off Foreclosures
By Joseph Schuman - AOL News(March 26) -- The Obama administration is expanding a program aimed at preventing home foreclosures by giving "a second chance" to some struggling homeowners who are unemployed or now owe more than their homes are worth. Officials said today that some of the $50 billion allocated to foreclosure prevention in the Troubled Asset Relief Program, or TARP, would be used to help unemployed borrowers lower their mortgage payments for a minimum of three months and up to six months as they look for a new home. Separately, banks and other mortgage lenders would be given incentives to write down the ...
Home Foreclosures in 2010 Could Top Last Year's
By Christopher Weber - Politics DailyWith continued high unemployment, fears are growing that jobless Americans won't be able to keep up with mortgage payments, leading to a new wave of home foreclosures. Those fears are compounded by the fact that a federal program aimed at keeping people in their houses hasn't been as effective as hoped, the Los Angeles Times reported. The goal of the $75 billion Home Affordable Modification Program, introduced last February, was to help banks make temporarily reduced mortgage payments permanent. But Obama administration officials concede the program has been slow to take off and they are ...
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