Now that the election has come to end, homeowners who are facing foreclosure look to President-elect Barack Obama to see what solutions he may hold for their predicament. Many have said that Obama’s first task at hand is to fix the economy, and most agree that this begins with the housing market.

On the Campaign trail in early October, Obama said he wants to put a 90 day hold on all foreclosures, giving lenders more time to work out a loan modification or repayment plan with those homeowners who are working hard to keep their homes. Recently The New York Times reported, that Obama hopes to “empower bankruptcy judges to ease the terms of home loans on primary residences.” It is certain that this issue will be on the top of the list for the newly elected Obama.

This entry was posted on Thursday, November 6th, 2008 at 1:10 pm and is filed under Foreclosure. 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.