President Barack Obama is proposing a stimulus program that’s designed to combat the high unemployment rate plaguing the nation. But will the new stimulus program help the average American avoid foreclosure and bankruptcy ?

Obama proposed new spending for highway and bridge construction, for small-business tax cuts and for retrofitting millions of homes to make them more energy-efficient. He said …

Tags: Barack Obama Health insurance Small business Unemployment benefits

According to an article in the Dallas Morning News President Barack Obama urged families to take advantage of low mortgage rates by refinancing their home loans.

The article quoted the President: “The main message we want to send today is there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates,” Obama said in a photo opportunity in the Roosevelt Room. “That is money in their pocket.” …

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In his inaugural speech President Barack Obama pledged to put America back to work; but is it that easy? For all you students of history, there’s an interesting article at Star-Telegram about whether it is likely or unlikely a President can influence the unemployment and job loss rate. Here are a few of the highlights I found most intriguing:

The number of jobs created hasn’t always kept pace with the expanding number of …

Permalink: /job_loss_unemployment/can-president-obama-really-create-new-jobs/

This week President-elect Barack Obama requested that the $350 billion remaining federal bailout fund be released by congress; but many on both sides of the aisle are leery about releasing another bailout package with few strings attached and little accountability of financial institutions. Congressman Virginia Fox is leading efforts to pass a resolution blocking the release of bailout funds to banks. But Obama has …

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President Obama’s State of The Union speech, addressed many issues facing Americans today. One of those issues was the need of America’s banking institutions to repay the American taxpayer for bailing them out of their self created financial mess when many of them were facing the possibility of liquidation in bankruptcy. 

The President said:

So I supported the last administration’s efforts to …

Tags: Bankruptcy foreclosure President Barack Obama

… drowning in student loan debt and many of those considering college listened to President Obama with much anticipation as he tackled the issue of crippling debt burdening most Americans who pursue a college education.  President Obama announced that he was working with Congress to create a national program which would ease the burden of student loan debt.

The President said:

To make college more affordable, this bill will finally end the unwarranted taxpayer subsidies that go to …

Tags: College Economy President Barack Obama State of the Union Student Loans

President Obama is meeting with economists, local officials, businesses and labor leaders to create a strategy that will lower unemployment and help end the recession.  But what strategy will really work in our efforts to turn this recession around and lower unemployment?  Some legislators have suggestions that include “letting the cards fall where they may” to dipping into the remaining banker …

Tags: Barack Obama foreclosure Health care Mortgage modification Nancy Pelosi Small business Unemployment

… is currently trying to sell 40,000 properties that have succumbed to foreclosure. A month ago, the Obama administration launched a foreclosure prevention program specifically targeting FHA borrowers; but the program will only help 45,000 of the 850,000 FHA borrowers facing foreclosure. Under the program some FHA borrowers facing foreclosure would receive loan modifications; but with the high rate of unemployment and wage cuts many of those homeowners may not be able to make any payments. …

Tags: Barack Obama Federal Housing Administration FHA foreclosure

According to an article in the Star-Telegram, the Obama administration has pumped up the pressure on mortgage lenders in an effort to curb foreclosures. This week the administration was able to extract a verbal pledge from 23 mortgage company executives promising to enroll 500,000 homeowners facing foreclosure into mortgage loan modification programs.

The article said:

“The sessions came amid concerns that the Obama administration …

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According to an article at AFP, President Obama and the White House have created a “Council on Automotive Communities and Workers,” which will recommend policies to help auto workers who have been hit by a tidal wave of automaker bankruptcies and job losses.

The article said:

“After decades of industry decline, workers have recently been buffeted by plant closures, slumping car sales and production plant sell-offs. According to …

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According to an article in the Star-Telegram, President Obama wants to create a package of government approved loans that will present less risk and confusion for borrowers and possibly prevent another foreclosure crisis.

The article said:

“If the Obama plan for simplifying the mortgage process is approved, here’s how it might work:

The government would give its seal of approval to a handful of mortgage types – a standard 30-year …

Permalink: /foreclosures/president-obama-hopes-to-create-government-approved-mortgages/

According to an article in the Dallas Morning News, President Obama has proposed sweeping changes in how our financial system is regulated. The President’s regulation plan, if approved, would give new powers to the Federal Reserve allowing it to oversee the entire financial system and would also create a new consumer protection agency designed to protect Americans from credit abuse.

The article quoted the President:

“ Mortgage brokers will be …

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