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Obama again tries to rehabilitate housing market with newest plan

Posted on 25 October 2011

Barack ObamaUS President Obama and White House officials announced a major change to a national home-refinancing plan Monday, in an effort to stimulate the economy and rescue as many as one million homeowners from foreclosure.

The proposal, an update to the Home Affordable Refinancing Program, is the latest in a long series of White House efforts to rehabilitate the housing market, which has been struggling to shake off its torpor since before Obama took office. The near-motionlessness of the country’s economy is believed to stem at least in part from the housing sector, where prices still haven’t recovered from their implosion of a few years ago, and millions of homeowners are trying to cope with the sudden evaporation of their wealth………………………………………Full Article: Source


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