Obama extends mortgage help program
The Obama administration is extending its home mortgage assistance program for a year, and expanding the number of homeowners who could be eligible for it.
“The administration is committed to a multi-pronged effort to support American homeowners to help heal our nation’s housing market,” said a statement from the Treasury Department.
The Home Affordable Modification Program will also be extended through 2013.
Obama signaled the move in his State of the Union address on Tuesday.
“While government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit bottom to get some relief,” Obama said.
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