Economic analysts expect a 1.5 percent decrease in the country’s economic growth this year. With rising inflation and unemployment, the housing crisis and foreclosure problem is expected to continue.
Incoming President Barack Obama will allocate up to $100 billion of the $350 billion Troubled Asset Relief Program financial bailout fund for foreclosure prevention.
Democrats and Republicans have opposing views on whether to release the remaining $350 billion of the Troubled Asset Relief Program (TARP) allocated for foreclosure prevention.
The U.S. Senate approved the release of the second half of the Troubled Asset Relief Program to Barack Obama because of his promise to spend most of the money to mitigate foreclosure.
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