Obama to try executive powers to aid economy

iVillage Member
Registered: 04-07-2002
Obama to try executive powers to aid economy
39
Mon, 10-24-2011 - 12:00pm
Obama to try executive powers to aid economy

With his jobs plan stymied in Congress by Republican opposition, President Obama on Monday will begin a series of executive-branch actions to confront housing, education and other economic problems.

By JACKIE CALMES

The New York Times

 nwtreehugger  

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iVillage Member
Registered: 05-03-2011
Mon, 10-24-2011 - 12:39pm
I'm all for this. I'm hoping that the refinancing requirements will finally allow my best friend whose home is underwater to be able to refinance to make her payments lower.
iVillage Member
Registered: 02-05-2011
Mon, 10-24-2011 - 11:10pm

iVillage Member
Registered: 02-05-2011
Mon, 10-24-2011 - 11:13pm

"According to an administration official, Obama will kick off his new offensive in Las Vegas, a ground zero of the housing bust, by promoting new rules for federally guaranteed mortgages so that more homeowners, including those with little or no equity in their home, can refinance and avert foreclosure."

iVillage Member
Registered: 05-03-2011
Tue, 10-25-2011 - 8:52am
He's said nothing negative about Las Vegas, and Las Vegas is hurting right now. Allowing all people to refinance their home loans would help a large number of people.
iVillage Member
Registered: 03-18-2000
Tue, 10-25-2011 - 11:08am
Sadly this help is too late for many.

 


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iVillage Member
Registered: 04-07-2002
Tue, 10-25-2011 - 2:32pm
True. But hopefully it will help keep more from facing that in their lives.

 nwtreehugger  

iVillage Member
Registered: 04-07-2002
Tue, 10-25-2011 - 2:37pm
I've never heard him say anything negative about LV. Besides, I know that the situation in NV is pretty bad.

 nwtreehugger  

iVillage Member
Registered: 04-07-2002
Tue, 10-25-2011 - 2:44pm
That's because that's not the focus of the article.
Note:
"It comes after unanimous votes by Senate Republicans in the past week to block the plan; House Republican leaders have refused to put the measure to a vote."

The article is about what the White House has decided to do to start addressing this issue because Congress can't get their fat heads around the fact that something must be done & 'politics' MUST be put aside for the better of our country.

 nwtreehugger  

iVillage Member
Registered: 08-30-2002
Tue, 10-25-2011 - 4:53pm

We actually may be able to refinance now. We tried about 6 months ago. Our credit is good, income is good, make all our payments on time, we aren't under water, but we weren't at 75-80% loan to value on the appraisal either. Actually in a lot better position than many who are upside down.



iVillage Member
Registered: 05-03-2011
Tue, 10-25-2011 - 5:38pm
If it's anything like the original Making Home Affordable Refinance, you have to deal with the bank that is holding the loan...in our case, it was Wells Fargo. Bunch of bastards.

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