The Carvajal Group Blog

Obama’s Plan Aims to Help 9 Million Home Owners

February 18th, 2009

Today President Barack Obama announced his plan to help over 9 million home owners that are suffering with payment of mortgages and falling home prices. The plan is offering several different solutions that hope to address the housing crisis.

The plan will provide incentive for many lenders to refinance current loans.  It hopes that this will allow individuals who have kept up on current payments  but may not make future payments with their homes.

The plan also will inject more cash into Freddie May and Fannie Mac.  This cash flow will allow the government to make some important housing and financing decisions with the companies current portfolio and services.

Also, the administration will look at bankruptcy code and work to make provisions for bankruptcy and mortgages.

The plan looks like it is taking the right steps and initiative in working to allow many Americans keep their homes.

If you are looking for Austin real estate, contact the Austin realtors of the Carvajal Group at 512-419-7770.

Tags: Austin Real Estate · Austin Real Estate Agent