Page 46 - Housing Problem News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Payments. so his basic point is i think he's partially right. basically what he's saying until we get unemployment straightened out, we'll still have a housing problem. until we get housing straightened out, we're going to have a problem. we have the t.a.r.p., major changes in the t.a.r.p. can no longer be made after october. we have four more months. there's a number of housing programs we can do and tweaks we can do on the present housing program so we can get more people to stay in their home. people stay their home the housing market will get better. then people will be employed and we sta...

Exactly where they were before unemployment. what can they do today to get beyond the housing problem and beyond unemployment? >> well, there's a lot of things. i stress creating jobs. congressmen i talk to are aware of this. they're getting letters for constituents. people are really upset. some people are being foreclosed on their home and they don't have a job. it doesn't feel right to bail out the corporations. we're going to have a bigger backlash if we let this continue. it's time to focus on job creation. also obama recently announced an increase in the hardest hit fund and other propos...

Right? those are not the people the president wants to protect. those making their mortgage payments is what the president is working on. when it relates to fannie and freddie you hear from republicans in congress that this is no doubt something that has to be reformed. the secretary of the treasury and our economic team are working on that. that will be the next step in financial reform once we get the legislation through congress but getting that legislation through congress is a massively important step in that financial recovery. you hear republicans in congress say i can't be for that bec...

Will the bill save us from future catastrophes? sherrod brown is on the banking committee. gentlemen, i'm going to keep this real simple. the mess we got into when the prices went down. when the money they owed higher than the value of the house. they walked. a lot of the mortgages were created to or built into securitized securities, if you will. bundled together as value. they turned out to have no value because people were walking away from their mortgages. is this bill going to solve the problem, senator brown? the problem of money disappearing because people can't afford or don't want to ...

Ohio democrat sherrod brown is on the banking committee and senator judd gregg of new hampshire is on the budget committ committee. gentlemen, i'm going to keep this real simple. the mess we got into when the prices went down. when the money they owed higher than the value of the house. they walked. a lot of the mortgages were created in or built into securitized securities, if you will, bundled together as value. they turned out to have no value because people were walking away from their mortgages. is this bill going to solve the problem, senator brown? the problem of money disappearing beca...