“We must help the an incredible number of property owners against foreclosures,” he told you towards the venture trail for the . Their bundle required changes in case of bankruptcy statutes, an effective crackdown with the predatory and you may deceptive loan providers and a great $10 million money to help homeowners avoid property foreclosure.

Having Obama looking to re also-election during the 2012, his number on the property foreclosure crisis is around assault. The new Republican group Crossroads GPS told you inside the a recent tv advertisement one to Obama broke their promise to help stressed property owners. The latest ad shows Obama stating he would assist them to after which press “BROKEN” into display.

The home Sensible Refinance System, otherwise HARP, aligned to help individuals re-finance the money within lower interest rates

PolitiFact checked-out the fresh new Crossroads claim and discovered that, in reality, Obama has experienced limited profits together with his intends to simplicity the new home loan drama. [Read more…]