“President Obama just launched a new plan that will help people keep their homes. According to the Associated Press, the administration started this program Wednesday and it will hopefully help 9 million people from having their homes taken. This process will work by modifying loans so that the owner has a lower monthly payment.”
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President Obama just launched a new plan that will help people keep their homes.

According to the Associated Press, the administration started this program Wednesday and it will hopefully help 9 million people from having their homes taken.

This process will work by modifying loans so that the owner has a lower monthly payment.

They will also help refinance mortgages too.

This process will be put into action under guidelines that were released by the Treasury Department.

These guidelines will tell the lenders how the borrowers are able to apply for the program.

We think this is a good idea.

There was definitely something that needed to be done with the number of people that were struggling to keep their homes.

Thankfully, Obama recognized this problem and is now trying his best to help these citizens keep their homes.

According to Rueters, from 2007 to 2008 foreclosures jumped 57 percent.

That is absurd.

We are hoping that with President Obama’s new plan, this rate won’t continue to grow and home owners will develop a better sense of security.

Hopefully, this will lead to a more stable economy. With people worrying less about paying off their homes, they will be able to spend more money helping the economic welfare of the country.

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