TheRealDeal - Bailout could prevent foreclosures

Posted on February 14, 2009
Filed Under Government Foreclosures |

President Barack Obama said that he wants $50 billion in stimulus funds to help prevent foreclosures. Telis Dimos of Fortune Magazine said that by adding conditions to federal money, the government can force banks to start lending to homeowners and modify loans for people in foreclosures. Although Obama said that the economy fix won’t happen overnight, Fritz Walter of the Consortium for Worker’s Education in Queens said that if the government acts quickly and funds are given to the middle class, the foreclosure problem could be “wrapped up in a year.” For more information please click on the link provided: http://www.ny1.com/content/ny1_living/real_estate/Default.aspx

Duration : 0:1:20

Technorati Tags: amir, barack, deal, dimos, foreclosures, fritz, korangy, NEW, ny1, Obama, prevent, real, telis, walter, york"

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