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Obama Measures to Tackle Foreclosure Problem

April 16, 2012 | Comments: 0 | Views: 146

Obama has initiated new measures and tweaked old ones in trying to regain the confidence of voters. He will also announce measures that will make it easier for college students to repay federal loans. This helps Obama to address ills plaguing the economy. He may have pushed the economy with tax cuts but the programs to overhaul the real estate market have not been successful.

Now that President Obama has already completed 1,000 days in office and there will be elections sometime next year. Although Obama has achieved a lot in terms of political mileage - he was able to kill Osama Bin Laden, yet his economic achievements have been few. The US economy is in the recessionary phase. Unemployment is at its peak. Foreclosures are high. Mitt Romney is of the opinion that foreclosures should continue till they hit the bottom.

The Federal Government is planning to come up with programs to help people refinance on their homes. The President is also trying to reach out to people as he hopes to be re-elected. In Las Vegas, he said that the Congress cannot be relied upon to do the job. If they are unable to act, the President will, he said.

While defending his policies, Obama said, there's "no excuse for all the games and the gridlock that we've been seeing in Washington. People out here don't have a lot of time or a lot of patience for some of that nonsense that's been going on in Washington."

The Jobs Bill is still in the Congress. He has even coined a new phrase that says we can't wait. This is perhaps a means to convey the message that the President is sincere in his attempt to stave off unemployment and stimulate the economy.

Obama will also announce measures that will make it easy for college students to repay federal loans. This helps Obama to address ills plaguing the economy. He may have pushed the economy with tax cuts but the programs to overhaul the real estate market have not been successful.

Economists said that after the housing bubble burst the economy came crashing down. Even unemployment is at a very high level nearing 10%. There are other factors that are putting a strain on the economy. These are loans that are more than the value of homes as well as salaries that continue to be depressed.

The Federal Government has come up with another refinance program. The White House officials say that 1 million more people will benefit from the program. Moody's Analytics put the figure at 1.6 million. Obama said, "Now, over the past two years, we've already taken some steps to help folks refinance their mortgages. But we can do more."

James Parker, has been working on ForeclosureWarehouse.com studying the foreclosures market, helping buyers on the finer points of Saint Simons Island Bank Foreclosures. Try to visit ForeclosureWarehouse.com and search Foreclosure Homes.

Source: EzineArticles
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