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Housing
Home prices are declining and foreclosure filings are skyrocketing. Several prominent companies that engaged in volatile sub prime loans have gone bankrupt or have been bought out, while the people they loaned money to are faced with mortgage bills they often cannot pay.
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DEMOCRATS
Barack ObamaProposes creating a $10 billion fund to help prevent foreclosures, eliminate some taxes and fees for families who must sell and offer counseling to homeowners. Would allow troubled homeowners refinance a loan insured by the Federal Housing Administration. Announced a "credit card bill of rights" to provide disclosure of hidden credit costs. Would provide tax credits to 10 million middle class homeowners who struggle with mortgage costs.
Fannie Mae and Freddie Mac
Supports maintaining the role that the two companies play in providing capital to the housing market.CNNMoney: More on Obama and the mortgage crisis | Mortgage giant rescue | Foreclosures
REPUBLICANS
John McCainGive homeowners the chance to have their loan modified, provided they meet certian criteria. Offers of financial assistance to borrowers contingent upon lending reform. Believes a government bailout should only be a last resort.
Fannie Mae and Freddie Mac
Supports government aid to keep the two companies from collapsing. CNNMoney: More on McCain and the mortgage crisis | Mortgage giant rescue | Foreclosures
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Resources
The issues that make up American politics have many voices. Here are a few governmental organizations, interest groups and companies from across the political spectrum that are actors in the debate over how best to resolve the housing crisis.
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