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A May 21, 2009, article in The Washington Post stated, "To build support for the stimulus package, President Obama vowed unprecedented transparency, a big part of which, he said, would be allowing taxpayers to track money to the street level on Recovery.gov..." But three months after the bill was signed, Recovery.gov offers little beyond news ...
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.
The Obama Administration's Home Affordable Modification Program (HAMP) continues to produce mixed results, according to a government report released Monday. While the number of troubled homeowners ...
President Obama's mortgage modification plan provided assistance to only 7% of borrowers who signed up last year, further adding to the chorus of boos for the much-hyped program. The Associated ...
The Obama administration has proposed a comprehensive revamp of the nation's housing finance business to reduce the nation's dependence on struggling government-backed enterprises Fannie Mae and ...
In order for the deal to go through J.P. Morgan Chase required [24] the Fed to issue a nonrecourse loan of $29 billion to Bear Stearns. [25] [4] This means that the loan is collateralized by mortgage debt [26] and that the government can't go after J.P. Morgan Chase's assets if the mortgage debt collateral becomes insufficient to repay the loan ...
WASHINGTON -- The Obama administration is offering some relief to homeowners who have government-backed mortgages. Under a program President Barack Obama unveiled Tuesday, the government would cut ...
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