Bailout Plans - Clinton vs. Bush

[annabanana]

I have been told that when we were in the Great Depression, that the government worked with homeowners directly to help them keep their homes. In the end, the government actually ended up ahead. Hillary has suggested something similar in her own plan. Some think that the government should do this again rather than dump $700 billion dollars into the private companies.

iamfacingforeclosure.com/blog/2008/03/25/hillary-clinton-proposes-new-mortgage-bailout-plans/



Breakdown of Hillary’s Proposals

90-day foreclosure moratorium

Freeze the interest rates on subprime ARMs for at least five years

Allow the FHA to guarantee up to $400 billion in refinanced mortgages

Put underwater mortgages on the government’s balance sheet on a temporary basis

Introduce legislation to protect mortgage servicers from investor lawsuits

Create a $30 billion stimulus package to allow cities and states to purchase foreclosed properties

Set aside $10 billion to expand the mortgage revenue bond program

Create a “high-level emergency working group” to brainstorm more ideas to help ease the foreclosure crisis

You can contact Dianne Feinstein here:
www.feinstein.senate.gov/public/index.cfm?FuseAction=ContactUs.EmailMe

You can contact Barbara Boxer Here:

boxer.senate.gov/contact/email/policy.cfm