February 12, 2009 at 17:20 PM EST
Two Ways: Obama's Home-Loan Rescue Program Saves the Trading Day
The US financial markets had quite a reversal after word got out of an Obama home-loan subsidy rescue plan. According to Reuters the president is considering a program that would subsidize mortgage payments for homeowners even before they fall behind - a major break from current aid programs which go into effect once the borrower becomes delinquent. Details are still emerging but what is known is that mortgage companies will utilize a uniform eligibility test to determine if the borrower qualifies for the program. The Obama administration is hopeful that the industry can develop a new set of standards to modify ...
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