The housing crisis and the Presidential Election have to be two of the most talked about subjects in the news today, but really the question is how do they come together, more importantly what are the two presidential candidate planning to do with the foreclosure crisis?

Representatives from both sides explained different ideas for a solution. John McCain is looking at an FHA plan that is similar to what is already in place; it would be based around accountability. If the homeowner was issued an unconventional mortgage after 2002, they would have to report to FHA to work out a modification of sorts.

Barack Obama’s plan is to work on a state and local level. The representaive explained that there are a lot of senator, governors, etc. who have great ideas on how to work with their constituents. He would like to create a fiscal stimulus fund for a home foreclosure plan that would work with these state and local representatives.

This entry was posted on Thursday, September 18th, 2008 at 6:03 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.