TITLE

Right Target, But Mod Plan May Still Miss

AUTHOR(S)
Hopkins, Cheyenne
PUB. DATE
March 2010
SOURCE
American Banker;3/29/2010, Vol. 175 Issue 47, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the U.S. President Barack Obama administration's Home Affordable Mortgage Program, which helps to prevent foreclosures by emphasizing principal writedowns over interest rate and payment reductions. According to the article, most observers believe that it targets the unemployed and those whose mortgages exceed the home's value. Consumer groups and industry analysts criticize that the proposed changes won't address the complex process.
ACCESSION #
48847455

 

Related Articles

  • The President's News Conference.  // Daily Compilation of Presidential Documents;3/6/2012, p1 

    The article discusses domestic and international issues brought up by media addressed by U.S. President Barack Obama on March 6, 2012. President Obama announced several actions and plans on the housing crisis which include helping Armed Forces and their families deal with high interest rates,...

  • Document Rules Changed for Loan Mods.  // American Banker;1/29/2010, Vol. 175 Issue F304, p17 

    This article reports that the administration of U.S. President Barack Obama is changing the documentation procedure in the government foreclosure prevention program. The U.S. Treasury Department has given banks until June 1, 2010 to begin collecting documents necessary for loan modifications of...

  • BATTLE ON THE HOME FRONT. Seidenberg, Steven // ABA Journal;Aug2009, Vol. 95 Issue 8, p52 

    The article discusses the need to modify mortgages in bankruptcy to fight foreclosures in the U.S. It presents an example of Paul Vachon who had to give up his house as the bankruptcy court was not empowered to do anything about the mortgage on his house. He could have saved his house with a...

  • 'Bold Effort' On Foreclosures.  // National Mortgage News;1/19/2009, Vol. 33 Issue 16, p10 

    The article reports on the bold foreclosure prevention plan in the incoming administration of President Barack Obama in the U.S. Shaun Donovan, new Housing and Urban Development secretary, states that he is already working on the plan with the Treasury Department and Federal Deposit Insurance...

  • MI to receive $128M to prevent foreclosures.  // Toledo Business Journal;Oct2010, Vol. 26 Issue 10, p31 

    The article reports that the administration of U.S. President Barack Obama will donate 128.4 million dollars to the Michigan State Housing Development Authority (MSHDA) to prevent foreclosures in the state.

  • Money pit. Jason, Gary // Liberty (08941408);Nov2010, Vol. 24 Issue 10, p17 

    The author claims that U.S. President Barack Obama's 75 billion U.S. dollar program to stop foreclosures is not working, with a million more homes expected to foreclose, up from 900,000 in 2009 compared to about 100,000 a year before the mortgage meltdown.

  • Rising Redefaults Raise Loan Mod Mandate Odds. Flitter, Emily // American Banker;5/5/2009, Vol. 174 Issue 85, p1 

    The article reports that the administration of U.S. President Barack Obama is increasingly concerned that attempts by banks to modify terms of distressed mortgage loans will be inadequate to prevent further large increases in foreclosure of homeowners. This may lead Obama to renew a push for...

  • "Stuff the Beast". Boskin, Michael // International Economy;Spring2009, Vol. 23 Issue 2, p39 

    The article offers the author's views on main goals behind the U.S. President Barack Obama's administration. He cites the foreclosure relief plan, which is said to have been off to an even slower beginning and is projected to run into various problems concerning the way that delinquent mortgages...

  • Administration holds high-profile meeting with servicers in D.C.  // Mortgage Banking;Sep2009, Vol. 69 Issue 12, p9 

    The article reports on the high-profile meeting of President Barack Obama's administration with mortgage loan servicers in Washington, D.C. The meeting aims to speed up relief to troubled borrowers who are on the brink of foreclosures. To publicly report on servicer-specific performance is one...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics