President Obama on Loan ModificationsSubmitted by bobbyw24 on Mon, 05/16/2011 - 08:26
President Obama has made a public call for mortgage lenders and servicers to provide struggling homeowners with longer-term modifications and principal reductions when it fits the situation.
Referring to the American taxpayers’ bailout of the banking system, which the president described as probably the most unpopular thing the government has ever done, Obama said, “[W]e were there for you when you got into trouble, then you’ve got to be there for the American people when they’re having a tough time.”
President Obama held a town hall meeting at the Newseum in Washington D.C. Thursday which was broadcast on CBS’ “The Early Show.” The president took a question from a woman in the audience who explained that her mortgage modification expires in January of . . .