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Federal Home Loan Mortgage : Obama administration unveils plan to expand affordable housing

Federal Home Loan Mortgage : Obama administration unveils plan to expand affordable housing

The Obama administration on Thursday said it would tap Treasury funds to bolster the construction of affordable rental housing and extend the life of a program aimed at helping struggling homeowners avoid foreclosure.

The announcement by Treasury Secretary Jacob Lew was timed to coincide with the fifth anniversary of the Making Home Affordable program, an Obama administration initiative launched at the height of the economic crisis to revitalize the housing sector.

He said the program would be extended for at least another year. “We need to continue to be there for homeowners who are facing foreclosure, those who are struggling with increasing interest rates on their modified mortgages, and those whose homes are caught underwater,” Lew said in remarks prepared for delivery at an event to mark the program’s anniversary.

Lew also said the administration would use money from the Treasury Department’s Federal Financing Bank to help housing finance agencies fund the construction of more affordable rental housing.

5 responses to “Federal Home Loan Mortgage : Obama administration unveils plan to expand affordable housing

  1. If this is like the help Obama has created in the past for homeowners, dont hold your breath, somehow this enables cheap housing for the banksters and con artist in my “Opinion”. So far the people have only been helped into a hellish black rabbit hole. Something fishy going on here to it smells. What no confidence in any kind of relief from the White House? And should there be? I vote no confidence no trust! Just my opinion. DO NOT TRUST THIS. Or possibly setting up the next to be called dead beat homeowners that got affordable housing expecting it the easy way? Which will turn on them as being dead beats?

  2. And this interview where Geithner admits the public was dealt an unfair blow. The banks are guilty of harming us. http://4closurefraud.org/2014/05/26/the-daily-show-tim-geithners-extended-interview-on-bank-bailouts-w-john-stewart/
    The help the Americans can expect!

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