Home loan topics
As the second week of February draws to a close, President Obama prepares to sign the $787 billion stimulus bill. The country is in the midst of the biggest economic decline it has seen other than the Depression. A large part of the stimulus bill will be aimed specifically at the ailing housing market, which is blamed for much of the financial crisis that began last year. Although the details of that plan have yet to be released, many homeowners at risk of defaulting on their mortgage loans or going into foreclosure are anxiously awaiting any hopeful news. It is anticipated that the President will announce the specifics of the housing and mortgage plan next week in Phoenix, Arizona.