Wednesday, February 18, 2009

Obama Announces Ambitious $75 Billion Foreclosure Bailout

The NY Times has an article on Obama's new plan to bailout citizens with mortgage problems as a result of the housing crisis. The plan, which is more ambitious than expected, would spend $75 billion to help keep as many as four million families in their homes, and would help as many as five million more refinance their mortgages to take advantage of lower interest rates.

Here is the article in the NY Times:

http://www.nytimes.com/2009/02/19/business/19housing.html?_r=1&hp

Here is the Fact Sheet on the Mortgage Plan from the White House:


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