President Obama says his home foreclosure plan is one of three tools he will deploy to stabilize the U.S. economy.
Our plan will help more families avoid foreclosure and give cities the chance to rehabilitate foreclosed homes and put them back on the market, " he said.
He's given a lot of thought to the problems of people like that student, and suggested that the current foreclosure crisis could be a full-employment act for the legal profession.
They have taken our houses through an illegal foreclosure process, despite not having the original mortgage.
Add in the fallout from the "robo-signing" scandal, in which Banks were accused of using flawed and possibly fraudulent foreclosure processes, and mortgage approvals will stay sluggish.
But he said the government should be just as quick and generous in helping throngs of troubled homeowners facing foreclosure for the same reason officials came to the aid of the big investment bank.
One out of every 8.3 mortgages in the U.S. is now either delinquent or in foreclosure.
She said such a plan could also create a way for foreclosure prevention to be conducted on an industry-wide basis rather than by the current ad-hoc process.
TO THE many dubious distinctions of Las Vegas, add one more: foreclosure capital of America.
That could help slow the foreclosure rate, but it does little to address the problem of vacant homes already on the market and the continued building of new ones.
In another sign of its focus beyond conventional policy, Mr. Bernanke on Thursday called for aggressive new actions by the government to help homeowners avoid foreclosure.
And recently, we've seen problems in foreclosure proceedings - mistakes that have led to disruptions in the housing markets.
Or the American foreclosure scams which claim to help indebted homeowners but simply bilk the borrower for more fees and bring forward their eventual eviction.
The report spoke of the ease at a historic high proportion of housing foreclosure.
They fell sharply at the end of last week amid questions about the home foreclosure process.
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