Positive News On Real Estate » Obama Stuffs Some Cool Cash Into Housing http://www.positiveonrealestate.com Positive Real Estate News Thu, 09 Feb 2012 15:34:35 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Obama Stuffs Some Cool Cash Into Housing http://www.positiveonrealestate.com/pr/116 http://www.positiveonrealestate.com/pr/116#comments Thu, 19 Feb 2009 07:31:48 +0000 admin http://www.positiveonrealestate.com/?p=116 President Barack Obama targeted the housing crisis at the root of the US economic meltdown, with a program which could cost 275 billion dollars and reach nine million homeowners.

The strategy includes 75 billion dollars designed as an incentive for lenders to reduce interest rates to prevent at-risk mortgage debtors joining the millions who have already fallen victim to foreclosures.

The government will also put up an additional 200 billion dollars to bolster efforts by federal lenders Freddie Mac and Fannie Mae to offer affordable mortgages and bring stability to the housing market.

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