President Obama’s new plan for struggling homeowners
The Obama administration is set to propose a broad package of initiatives to help millions of strained homeowners refinance with new government-backed mortgages with lower payments. The move is meant to help fix the current foreclosure crisis.
The plan also features special provisions for unemployed Americans as it could temporarily cut their monthly mortgage payments. Finance reporter for The New York Times, Louise Story, explains how the new package has potential to make a difference in the lives of many homeowners.
The story you just read is not locked behind a paywall because listeners and readers like you generously support our nonprofit newsroom. If you’ve been thinking about making a donation, this is the best time to do it. Your support will get our fundraiser off to a solid start and help keep our newsroom on strong footing. If you believe in our work, will you give today? We need your help now more than ever!