Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

7 of 22
BACKNEXT
Fighting Foreclosure
Fighting Foreclosure
Obama wants the government to step in to help homeowners facing foreclosure.

· Allow troubled homeowners to refinance to a loan insured by the Federal Housing Administration.

· Require any financial institution participating in Treasury's Troubled Asset Relief Program to put a 90-day moratorium on foreclosures for homeowners "acting in good faith."

· Create a 10% tax credit for homeowners who do not itemize their taxes.

· Create a $10 billion fund to help victims of predatory loans.

· Authorize bankruptcy judges to reduce mortgage principal.

"...If the government can bail out investment banks on Wall Street, then we can extend a hand to folks who are struggling on Main Street." -- Obama*

NEXT: Mortgage Giant Rescue
Last updated November 06 2008: 11:36 AM ET
Source: *June 9, 2008, Speech, Raleigh, N.C.
More Galleries
Five most expensive cars sold at Pebble Beach These classic cars went for seven figure sums at the world's premier classic car event. More
Seats that move! Rain! Movie-watching goes beyond 3D How can movie theaters compete when many prefer to watch streaming video from their own comfy couches? Some hope a new interactive technology will lure audiences with immersive effects. More
15 cool cars for sale at Pebble Beach While these events are best known for seven-figure classics, just about everything crosses the block at Pebble Beach. More

Special Offer