Tagged: homeowners

Obama will not sign foreclosure bill

October 7th, 2010 in Politics 0 comments

The White House announced that President Obama will use a “pocket veto” on a bill that would make it easier for banks and other lenders to foreclose on homeowners. Political science department chair Graham Wilson offers the following view:

“Vetoing a measure speeding up foreclosures must feel like taking a stand for apple pie and motherhood.”

Contact Graham Wilson, 617-353-2540, gkwilson@bu.edu

Tagged , , ,

Fighting foreclosures

March 26th, 2010 in Economics 0 comments

home on billsThe Obama administration announced a new strategy to fight home foreclosure, including requiring lenders to cut or eliminate monthly mortgage payments for many jobless homeowners.  School of Management Finance & Economics Department chair Professor Jack Aber says some borrowers may unfairly benefit at the expense of others, but breaking the impass still makes sense.

“Purging these underwater loans out of the financial system will reduce uncertainty and ultimately strengthen the financial condition of lending institutions.”

Contact Jack Aber, 617-353-4404, jackaber@bu.edu

Tagged , , , ,