Housing Crunch Remedy for Veterans
White House Remedies For Veterans, “Responsible Homeowners” Called Limited Plan for Overall Housing Crunch
On Super Tuesday, as Republican presidential primaries are contested in 10 states, the White House took the opportunity to show what President Barack Obama wants to do to help responsible homeowners and support the housing market recovery by introducing two new measures.
Saying that the government “cannot fix the housing market on its own,” Obama used his first press conference of the year to reiterate his belief that responsible homeowners “should not have to sit and wait for the market to hit bottom to get relief when there are measures at hand that can make a meaningful difference.”
The two steps from the detailed White House fact sheet announced today are:
The White House says these two new measures amplify policies outlined in Obama’s 2012 State of the Union address in January. The announcement comes on top of the historic settlement completed by the Federal government and 49 state Attorneys General last month, when it was agreed that five of the biggest lenders would pay upwards of $26 billion in fines and principle reductions.
Despite the attempt to stem further losses and remediate fraudulent foreclosures, this new plan for veterans and service members does not address the deep, underlying issues that have erased more than a trillion in housing equity.
According to Zillow Chief Economist Dr. Stan Humphries, the White House’s latest plan will not have make any significant strides to remedy the overall health of the housing market.
Blog Archive2017-01-02 11:10:21
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