Hmm...saw this today in the San Diego Union-Tribune. Obama is unveiling a plan that will use taxpayer dollars to aid homeowners about to foreclose. Not sure how I feel about this one.
WASHINGTON — President Barack Obama's administration is considering spending taxpayer dollars to cut monthly payments for homeowners on the verge of foreclosure, according to people briefed on the proposals.
The deliberations came as lawmakers prepared to enact a new tax credit of up to $8,000 for first-time home buyers that is intended to boost the ailing housing market.
Details of the plans to aid troubled borrowers were not final but were expected to be unveiled in the coming weeks, said the people who declined to be identified because the details were not yet complete. The effort would be part of a plan to spend $50 billion on foreclosure prevention and establish national standards for modifying home loans.
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