McCain, Obama Solidify Stands on Housing

Both presidential candidates have announced plans to help voters deal with the challenging housing economy.

Here are their ideas as posted on their election websites:

Sen. John McCain:

Direct assistance to homeowners. No taxpayer money should go to real estate speculators who made bad decisions about investments.

Reform financial and lending systems to prevent a repeat.

Require participating lenders to forgive part of subprime borrowers’ loan principals and place them into new 30-year Federal Housing Administration loans.

Give financing to municipal and civic groups trying to solve problems within their own communities.

Sen. Barack Obama

Create a standardized disclosure plan that allows for full-disclosure of loan costs and provisions.

Crack down on mortgage fraud.

Give a mortgage credit to those who don’t itemize deductions.

Create a fund to help homeowners who face foreclosure refinance.

Allow bankruptcy courts to modify a homeowner’s mortgage payments.

Source: The San Diego Union-Tribune, Lori Weisberg

Author: niaknowles

From Native New Yorker (Brooklyn) to Atlanta Realtor, with a love for architecture and design. Atlanta based Real Estate Consultant working to restore and sell Intown Homes; REO,South West (Westside,West End, Westview Communities 30310,30311,30314,30318 zip codes)

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