President Obama has big plans to help Americans who are facing foreclosures on their homes in these tough economic times. Although the plan may sound like it has a socialist agenda but ask that to a family with kids who are about to lose their home.
The plan is as huge as $75 billion dollars and it is primarily aimed at the stopping the foreclosure bleeding. The plan would perhaps effect some sort of relief and enforce a moratorium on their closures by banks.
This bill is basically called the Homeownerâ€™s Stability Initiative (HSI) and by even modest estimates would end up helping around 7 to 9 million Americans who are facing foreclosures by restructuring or even refinancing their mortgage.
The whole idea is not only to make the companies involved stable so that they would stop hemorrhaging but even make the lives of countless Americans better.