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
Best business class airline lounges around the world Between August 2015 and May 2016, Skytrax surveyed over 19.2 million customers to find the best airline lounges. Here is what they found. More
What Boeing's new 737 Max 9 has under the hood Boeing unveiled its new, longer 737 Max 9 airliner earlier this month, the second member of the updated single-aisle jet family. The first aircraft will deliver to airlines starting in 2018. More
Toy Fair surfaces holograms, robotic animals, dolls for boys The Toy Industry Association's annual fair revealed countless tech-enabled toys -- and some fresh takes on old classics. More

Special Offer