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    Obama Shifts Back to Economy After Fundraising Swing

    18.05.12

    President Barack Obama shifted his focus back to the economy after three West Coast campaign fundraisers, stopping in the swing state of Nevada to promote his housing initiatives.

    During a 90-minute stopover on his way back to Washington, Obama met with a family in Reno to illustrate the need for more action by Congress to assist homeowners. He also reiterated his five-point “to-do list” for lawmakers and criticized Republicans for wanting to return to policies that “just didn’t work.”


    Source: BusinessWeek

    Menendez Boxer Introduce Bill To Help Responsible Homeowners Refinance

    18.05.12 Washington, D.C. – U.S. Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) introduced legislation to help millions of responsible homeowners refinance at lower rates and save thousands of dollars each year – a measure that would help check off a main element of President Obama’s “to do
    Source: PoliticalNews.me (press release)

    Lenders less leery of reducing homeowners' principal

    18.05.12

    Principal reduction, long a nonstarter with lenders, has suddenly become a potential reality for thousands of homeowners who owe far more than their houses are worth.

    Some economists and politicians have argued for years that the only way to revive the housing market and jumpstart the economy is to vastly reduce the amount Americans owe on their mortgages. But lenders have balked at writing down debts.


    Source: Sacramento Bee