Snap-O Fact #57

Post date: Jan 02, 2012 1:28:46 AM

Snap-O Fact #57

President Obama Helped Home-Ownership In Trying Times!

In an attempt to assist millions of Americans to stay in their homes, as well as to stabilize the financial and housing markets, President Obama signed the "Helping Families Save Their Homes Act" on May 20, 2009. According to the White House, the law focuses on four areas.

1. It helps to create more home buyers by making housing more affordable. Specifically, it modifies the farm loans program providing federal loans to reliable borrowers.

2. By expanding FDIC and NUCA capabilities, the policy increases the flow of credit in the market.

3. Consumer protection is emphasized to ensure that consumers have the rights toward their ownerships and that they get what they pay for.

4. Finally, the law also offers assistance to homeless Americans.

Sources:

http://www.whitehouse.gov/the_press_office/Reforms-for-American-Homeowners-and-Consumers-President-Obama-Signs-the-Helping-Families-Save-their-Homes-Act-and-the-Fraud-Enforcement-and-Recovery-Act

http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s896enr.txt.pdf

http://thomas.loc.gov/home/gpoxmlc111/s896_enr.xml

http://www.democraticleader.gov/floor?id=0281