The big news about the economy today involved the fact that President-elect Barack Obama has discussed the importance of making the rest of the bailout funds available for him to take advantage of soon after getting into office. Of course, while it seems as though the majority of folks who are thinking about the bailout - regardless of which side of the aisle they sit on - are making an effort to make the funds available, Chris Dodd stood up today and made a comment that the key was going to be this: the funds could be released, if they also helped homeowners who were taken advantage of to stop foreclosure.
One of the biggest complaints about the financial bailouts has been the fact that little (if anything) has been done to help the homeowners through the financial meltdown. There are plenty of arguments that suggest that, in order to help with things on “Main Street” the homeowners - and not just the banks that gave them problematic loans in the first place - need to benefit in some way.
Will the government actually step in and do something to help stop foreclosure? Possibly, but at this point in time, it seems way to early to determine whether or not there will be results.
This entry was posted
on Monday, January 12th, 2009 at 8:55 pm and is filed under Stop Foreclosure.
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