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Obama to pledge $75 billion mortgage bailout today

by macleans.ca on Wednesday, February 18, 2009 7:10am - 1 Comment

Another day, another massive U.S. bailout. This time it will be a $75 billion package—to be unveiled by President Obama this afternoon—to help the up to 9 million Americans who are in trouble with the mortgages. Buried in this AP story are some staggering figures: “Of the nearly 52 million U.S. homeowners with a mortgage, about 13.8 million, or nearly 27 percent, owe more on their mortgage than their house is now worth.” Very scary.

Associated Press

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  • http://www.minnitiaccounting.com Robert K Minniti, CPA, CFE, Cr.FA, CFF, MBA

    Here is a link to a commentary on the government’s proposed mortgage bailout program that you might find interesting  http://tinyurl.com/ckw7y4

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