Obama on Fighting Foreclosure

During his campaign for the presidency, Barack Obama explained where he stands on many of the economic issues that matter most to Americans.

On foreclosures, Obama wants the government to step in to help homeowners facing foreclosure.

· Allow troubled homeowners to refinance to a loan insured by the Federal Housing Administration.

· Require any financial institution participating in Treasury’s Troubled Asset Relief Program to put a 90-day moratorium on foreclosures for homeowners "acting in good faith."

· Create a 10% tax credit for homeowners who do not itemize their taxes.

· Create a $10 billion fund to help victims of predatory loans.

· Authorize bankruptcy judges to reduce mortgage principal.

"…If the government can bail out investment banks on Wall Street, then we can extend a hand to folks who are struggling on Main Street." — Obama*

What do you think? Can the new President-Elect deliver on these campaign promises? We’d love to hear your opinion. Just use the "Comment" link below to sound off and tell us what you think.