Financial Services

The President’s Real Estate Rescue Plan

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The President’s Real Estate Rescue Plan

http://money.cnn.com/2009/02/18/real_estate/Obama_foreclosure_plan/index.htm?postversion=2009021819

The new Homeowner Affordability and Stability Plan targeted to help 9 million borrowers addresses two basic issues. First, it enables more homeowners seeking refinance to make use of the new low interest rates. Second, it offers incentives to players in the mortgage industry to restructure more affordable mortgages.

About 5 million homeowners seeking refinancing will benefit from this scheme. Many of them have been unable to benefit from refinancing due to falling home prices. But with the new guidelines, even those with debt that exceeds 5% of home value are eligible with prepayment penalties. This does not apply for those with jumbo debt.

Mortgage defaulters, those at risk of default, those with high combined mortgage debt as well as those underwater, qualify for loan modification.

http://www.mga.org

The Winners And The Losers Of The Economic Stimulus Deal

The Winners And The Losers Of The Economic Stimulus Deal

http://www.foxnews.com/politics/first100days/2009/02/11/obamas-stimulus-package-reveals-winners-losers/

Now that President Obama’s stimulus plan has finally been agreed upon by both the houses of the Congress, we can assess who are the losers and the winners in the deal.

President Obama is going to be the biggest winner if the plan works. If not, then obviously he might not be reelected.

Basically the bill aims to put money back into the pockets of the consumers and businesses. One of the main aims of the bill is to create new jobs. The bill consists of one-third tax cuts and two-third spending incentives.

Economists are saying that more needs to be done to get the economy moving. President Obama has also said that the stimulus plan is just “one leg of the stool” that is needed to stabilize the economy.

President Obama knows that his presidency would be judged on whether he is able to get the economy revived or not. And hopefully he will do everything that is needed for this.

A Deficit Inheritance

http://articles.moneycentral.msn.com/Investing/StockInvestingTrading/cost-of-the-bush-era-11-point-5-trillion.aspx


Not millions or billions, but trillions of dollars, is what George W. Bush's presidency has cost the country! About $11.5 trillion has been estimated to have been spent [read ‘wasted’] in the past four years. What the country has ‘earned’ from all this spending has been - deficits, two recessions, terrorist attacks, Wall Street meltdown and a war with Iraq. The people of America have been left saving every cent and each dollar that they can.
Now, with President Barack Obama’s $850 billion stimulus package, they are waiting to see how things will change. Will the new government be able to tide over the $1.2 trillion deficit that Bush has left behind for them as a legacy? And if they can, how soon will they be able to do this? We can only wait and watch.