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More on the Administration's Housing Plan

February 23, 2009

Consumers Union: “The Obama administration’s plan to fight foreclosures provides long overdue help to Americans at risk of losing their homes, according to Consumers Union, the nonprofit publisher of Consumer Reports magazine. President Obama today unveiled a $75 billion foreclosure prevention program aimed at spurring banks to modify at-risk mortgages and empowering bankruptcy judges to ensure that mortgages are more affordable, among other reforms.”  Read more.

Center for Responsible Lending: “The housing plan announced today represents a huge step forward for the entire country, and includes responsible and effective actions to reduce the massive foreclosures that triggered today’s economic crisis.   It represents an essential and overdue investment in correcting the results of bad lending and poor risk management.   And it will benefit households from across the economic spectrum, providing new hope for a future with stronger communities and a stronger economy.”  Read more.

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