President Bush Addresses Fed Assistance For Subprime Homeowner

Earlier today President Bush addressed the sub-prime crisis and what the Federal Government plans to do to help homeowners at risk of losing their homes.

The comments I liked were:

Bush said, “It’s anything but modest if you’re one of the families affected.

“I plan to help homeowners, the government’s got a role to play,” Bush said. “But it’s not the government’s job to bail out speculators or those who made the decision to buy a home they couldn’t afford.”

For some it will definitely be too late. However, for every home saved it is another American allowed to live the American Dream of owning a home. Not everybody will or should be helped. But, there are a lot who just got caught up in the current leading to Niagra Falls. This is a step in the right direction if planned and prepared correctly. My worry is the abuse that will occur from some less than honorable people that will deny some who deserve the help.

More Reading

• President Bush Announces Plan To Help Quell The Tide Of Subprime Foreclosures


• FTSE ends up on Bush mortgage plans


• Bush and Bernanke to launch twin subprime assault

This entry was posted on Friday, August 31st, 2007 at 12:13 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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