Thursday, September 22, 2011

Obama's Foreclosure Plan

Under Obama's plan, governments were given 275 billion dollars that was meant to help homeowners in danger of foreclosure. This becomes a problem because there are only about 2.5% of American homeowners that even qualify for Obama's plan. Not to mention about half of those who actually do qualify for this foreclosure plan will more than likely redefault and risk losing their home again. Five times as many houses could have been saved if Obama's plan just paid off mortgages instead of giving the money to the banks. Where do we go from here? What is the next step that we as a nation need to take?

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