Obama Announces Push For Vet Housing Plan

0 Shares
barry0307_image

President Barack Obama announced a new plan to provide veterans and active members of the military with mortgage relief in the form of government-backed loans, his latest attempt to reinvigorate the housing sector, The Washington Times reported.

According to the newspaper, the President laid out his housing-relief proposal in his first full news conference of the year. Obama specifically spoke to the veterans and service members whose deployments and mandatory moves have made them particularly vulnerable to the pitfalls of the housing crisis.

The Times reported that the President's plan reduces fees for qualifying borrowers with Federal Housing Authority-insured loans who want to refinance their home at a lower rate. This move would build on the landmark housing settlement with major mortgage lenders by the White House and 49 State attorneys general last month.

The Washington Post reported that Obama also outlined a new agreement with banks to review foreclosures for members of the military, as deals that took place since 2006 will be looked at and compensation may be provided to anyone who wrongfully lost their home. 

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to yousoundoff@personalliberty.com by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.