Wednesday, February 18, 2009

Homeowner Affordability and Stability Plan

Today's remarks by President Obama on the mortgage crisis.

The U.S. Department of Treasury has published questions and answers for borrowers about the Homeowner Affordability and Stability Plan. It is divided into q & a's for borrowers who are current with their mortgage and those who are at the risk of foreclosure.

The U.S. Department of Housing and Urban Development's website has various links to further information.

Fannie Mae's website and the Treasury Department's financialstability.gov also have further information.

Former Secretary of Labor Robert Reich wrote a blog post on the proposal stating that the two most important aspects of the proposal are its support for bankruptcy modification of mortgage and the administration's support for Fannie Mae and Freddie Mac.

New York Times editorial supporting bankruptcy reform allowing principal residence mortgage modification.
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