Incoming President Barack Obama will allocate up to $100 billion of the $350 billion Troubled Asset Relief Program financial bailout fund for foreclosure prevention.
The foreclosure prevention plan unveiled by President Barack Obama has left more questions unanswered including how the administration will implement its refinancing program.
The foreclosure prevention initiative announced by President Obama has generated support from mortgage professionals, builders and realtors who are hopeful that it would stabilize the housing market.
HUD Secretary Shaun Donavan has called on banks to take aggressive actions to ensure that the Obama Administration's foreclosure prevention initiative will succeed.
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