Obama moves to ease foreclosure

On Behalf of | Nov 8, 2011 | Personal Bankruptcy |

Many American families are facing foreclosure, but there are now efforts in Washington to help homeowners in Tennessee and other states across the country.

In late October, President Obama ordered a series of measures be implemented to help homeowners facing foreclosure. He also issued directives to aid those with heavy student loan burdens and unemployed veterans. The president’s latest move acknowledges the financial squeeze being experienced by many Americans.

President Obama is trying to take more aggressive action to show the American people that he is working to boost the economy and help those without jobs gain employment. He says that he can’t wait for Congress to move forward.

His push to help those struggling in this tough economy has been faced with opposition. House Speaker John Boehner doesn’t feel it is right for the president to act on these measures alone.

Just one of the measures proposed by the president is the creation of a website that provides information about government programs to help businesses grow.

Massive debt and sudden unemployment have led some to seek bankruptcy, while others have had to face the prospect of foreclosure. Foreclosure can be an emotional strain on working families, especially if it comes in the midst of a general struggle to make ends meet.

When planning for this action, it’s important for people to have an understanding of all the related legal issues. It may be beneficial to seek legal advice about new laws and regulations for persons going through the process of foreclosure.

Source: Politico, “Obama acts alone to boost business,” Jennifer Epstein, Oct. 28, 2011


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