Job loss remains a critical threat to housing's recovery, as the loss of income continues to boost defaults and foreclosures.
The good news is an accelerated effort by the Obama administration to create over 600,000 jobs in the next 100 days is underway. Vice President Joe Biden calls the effort ambitious but realistic.
A San Diego real estate agent is taking on the "big banks" in a self-styled David and Goliath battle.
Bob Hamzey, sure the banks are taking advantage of the Obama administration's "Foreclosures Alternative Program," (FAP) is asking for the submission of personal stories documenting alleged short sale abuse.
After the collection process is finished, Hamzey will bundle the testimonials into a single package, a compendium of complaints, to send to the big guy in the White House.
An historic $3.6 trillion budget passed Congressional votes late Thursday, signaling a major victory for President Barack Obama's sweeping plans to build up a receding economy, primarily with government spending programs.
President Barack Obama late Monday announced three nominations for key roles to serve under Treasury Department secretary Tim Geithner. The nominations, according to a White House press release, fill three of the four "most senior" positions under the secretary.
We can't make this stuff up. Outrage over $165 million in bonus payments paid to traders for the bailed out American International Group, Inc. ($44.69 0.16%) reached a boiling point with the White House and lawmakers yesterday -- but the most over-the-top statement came courtesy of Sen. Charles Grassley (R-IA), who said that executives at the troubled insurer should resign or kill themselves.
President Barack Obama on Sunday announced his intent to nominate three advisers to key posts at the U.S. Treasury Department, which has lately been criticized for being understaffed. "Out of crisis arises opportunity," Obama said in a statement. "With the leadership of these accomplished individuals and our whole economic team, I am absolutely confident that we will turn around this economy and seize this opportunity to secure a more prosperous future."
President Barack Obama's housing plan just might boost loan volumes, if traffic on Zillow Inc.'s lead-generation Web site is any indication. Amidst the announcement of President Barack Obama's housing plan, coupled with mortgage rates reaching historic lows, real estate web site Zillow.com reported Tuesday record-breaking traffic and loan request activity within its free marketplace for custom mortgage quotes over the past three months.
In an address to the joint session of Congress late Tuesday, President Barack Obama said his combined stimulus, bank and housing plans, together with the energy, health care and education reforms he will propose in his 2010 budget, will increase employment, stimulate lending and get the U.S. economy out of recession.
President Barack Obama on Tuesday signed into law the American Recovery and Reinvestment Act in Denver, Colo. "What I am signing is a balanced plan with a mix of tax cuts and investments," he said in his pre-signing remarks. "It is a plan that’s been put together without earmarks or the usual pork barrel spending. And it is a plan that will be implemented with an unprecedented level of transparency and accountability."
President Barack Obama is poised to sign the $787 billion financial stimulus package Tuesday afternoon in Denver, Colo. The package includes more than $7 billion for a high-speed internet expansion project to connect rural areas with faster communication and increased business potential. It also includes expanded unemployment benefits and funds for a first-time home buyer tax credit. Congress has claimed from early versions of the package that every $1 invested will bring a $10 return in economic growth.
