Building on President Obama's plans to help the middle class and spur economic growth, the White House has released a comprehensive plan on the housing market, details of which will be featured in a speech by the President in Arizona on Tuesday.
Mr. Obama is expected to again call on Congress to help millions of Americans who are "underwater" on their loans to refinance their mortgages; also he'll push lenders to make it easier for people to get loans in the first place.
The President will also push Congress to unravel the bailout of housing giants Fannie Mae and Freddie Mac, and try to move to a system where the federal government is not securing the vast majority of home mortgage loans.
While members of both parties criticized the bailout of Fannie and Freddie, it is actually now helping the bottom line for Uncle Sam, as the housing companies are returning to billions to the U.S. Treasury.
Here is the rundown of the White House plans on housing, as sent to reporters on Monday evening:
Building on President Obama's plans to help the middle class and spur economic growth, the White House has released a comprehensive plan on the housing market, details of which will be featured in a speech by the President in Arizona on Tuesday. Mr. Obama is expected to again call on ...
