Safe at home: President Obama announces his housing bailout plan

Thursday, February 19, 2009

Yesterday President Obama unveiled his $275 billion plan to help millions of homeowners refinance their mortgages or avoid foreclosure. President Obama's plan claims to be simple, but it's not. Luckily we have Alvin Hall, personal finance adviser and Takeaway contributor, who has been up all night reading through the plan. Also joining us for his first-hand account is Carlos Saenz, a homeowner struggling to pay his mortgage in Orlando, Florida.

Guests:

Alvin Hall and Carlos Saenz

Hosted by:

Daljit Dhaliwal

Comments [1]

LEE SMITH

Your interview with Alvin Hall and the young man ,Carlos, who owes $386k on a mortgage in Orlando really typifies the problem doesn' it? I mean he said he's out of work and the house is worth only $280k. It DOESN'T MATTER WHAT THE MARKET VALUE OF THE HOUSE IS, he can't pay the mortgage because he's out of work. It sounded from the interview that he had almost nothing down. IF that's the case he can walk out almost losing nothing leaving the bank to worry about the difference. See, it's not about the homeowner is it though? It's all about protecting the banks!!!

Feb. 19 2009 06:35 AM

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