In the News

Wall Street Journal (Gov. Paterson): Obama's Mortgage Plan Is What We Need
What is sometimes lost in the public discussion of our current economic crisis, amid the $787 billion stimulus package and the multibillion dollar bailouts of banks and insurance companies, is the root cause. The economic downturn began as a mortgage crisis and will not end until we solve that problem.

NY Times: U.S. Sets Big Incentives to Head Off Foreclosures
The Obama administration on Wednesday began the most ambitious effort since the 1930s to help troubled homeowners, offering lenders and borrowers big incentives and subsidies to try to stem the wave of foreclosures.

Wall Street Journal: Mortgage Bailout to Aid 1 in 9 US Homeowners
The Obama administration announced details of a housing-rescue plan it said would help as many as one in nine homeowners, from low-income Americans struggling to avoid foreclosure to well-off borrowers who owe more than their homes are worth.

USA Today: Housing rescue plan 'should get ball rolling'
The Obama administration Wednesday outlined details of a $75 billion housing rescue plan expected to help as many as 9 million American homeowners rework mortgages into more affordable monthly payments.

SF Chronicle: Details of plan to rescue housing Ways to keep people afloat; refinance, modify loans
The Obama administration unveiled key details of its housing market rescue program on Wednesday, including a ceiling on mortgages eligible for modification that was raised high enough to potentially help hundreds of thousands of struggling Californians, real estate experts around the state say.

Newsday: LI Housing Advocate Sees Positive Sign for Housing Plan
As the nation awaits word of which lenders and servicers will join the federal “Making Home Affordable” rescue plan, one local housing advocate has seen a positive sign.

Washington Post: U.S. Launches Wide-Ranging Plan to Steady Housing Market
The Obama administration yesterday sketched in the details of its most ambitious attempt to reduce foreclosures and stabilize the beleaguered housing market at the root of the economic meltdown.

LA Times: Obama plan aims to help 'responsible' homeowners
The Obama administration's plan for a housing rescue aids two groups of homeowners largely left out of previous efforts and aims to deny benefits to those who have been unwise or greedy, according to details released Wednesday.

Boston Globe: Many in Mass. may get mortgage help
More than 100,000 Massachusetts homeowners who cannot refinance at current low rates because of falling property values may now be able to do so as part of the Obama administration's housing plan.

Miami Herald: Thousands in South Florida in line for home loan relief
The Obama administration released details Wednesday on how its $75 billion housing rescue plan could help about nine million borrowers nationwide who could qualify for a loan modification or refinancing.