Obama administration bolsters homeowner lifeline
Saturday, January 28th, 2012 at
3:18 am
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WASHINGTON (Reuters) – The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt. The administration said it would extend the life of the Home Affordable Mortgage Program by a year through 2013 and widen it to reach more heavily indebted homeowners. …
WASHINGTON (Reuters) – The Obama administration on Friday expanded its main foreclosure prevention program and pushed to open it up to loans backed by mortgage giants Fannie Mae and Freddie Mac, a go that could meet resistance from their regulator. In a joint announcement, the Treasury and Housing and Urban Development departments proposed using money from the Home Affordable Modification Program to provide incentives for Fannie Mae and Freddie Mac to reduce loan principal. Government-controlled Fannie Mae and Freddie Mac own or guarantee about half of all U.S. …
WASHINGTON (Reuters) – President Barack Obama celebrated the legacy of killer civil civil rights leader Martin Luther King Jr. with his family on Sunday, clapping and swaying to the boisterous strains of “Incredible Grace” at a historic Washington D.C. Baptist church. On the eve of the holiday marking King’s birthday, the president, Initially Lady Michelle Obama and their daughters, Sasha and Malia, attended a service at Zion Baptist Church. The Reverend Keith Byrd Sr. called on congregants to keep King’s legacy alive and welcomed the initially family. …
(Reuters) – President Barack Obama, striking a hopeful note in a year-end weekly take up, hailed foreign policy milestones while keeping difficulty on Congress to further extend payroll tax cuts through the end of 2012. The president, on a week-long vacation in Hawaii, praised Congress for temporarily extending a payroll tax cut for two months, a go he said would save average Americans per paycheck. But he said more tough fights were to come in 2012. “There’s no doubt that 2012 will bring even more change. …