Congress Strikes $789 Billion Stimulus Deal
Congress Strikes $789 Billion Stimulus Deal
Wall Street Journal
February 12, 2009
Congress and the White House reached accord on a $789.5 billion economic-recovery package that would shower hundreds of billions of dollars in tax relief on individuals and businesses and spark an infrastructure building boom, from the nation's ports and waterways to its schools and military bases. The deal all but clinches passage of one of the largest economic rescue programs since Franklin Roosevelt launched the New Deal.
Signs of the Times: On Valentine's Day Give a Foreclosed Home
Reuters
February 12, 2009
This Valentine's Day, why not buy your loved one a foreclosed home? U.S. realty company RealtyTrac Inc's latest publicity email tells clients: "With more than 1.5 million foreclosure properties on our website, you're sure to find a sweet deal that won't break your heart." It adds romantically: "A sweet foreclosure deal beats a dozen roses or a box of chocolates any day."
Regulator Calls for Lenders to Stop Foreclosures
Washington Post
February 12, 2009
The Office of Thrift Supervision today called for the mortgage lenders it regulates to halt foreclosures until the Obama administration puts in place a program to help struggling homeowners.
Treasury’s U.S. Housing Plan to Fund Interest-Rate Reductions
Bloomber News
February 12, 2009
The Obama administration’s housing plan will use government money to help reduce interest rates for struggling borrowers, while asking lawmakers to approve more ways to modify mortgages, according to a person briefed on the proposal.