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Posts Tagged ‘State of the Union’

NAHB Responds to President Obama’s Speech

February 15th, 2013 Comments off

Following President Barack Obama’s State of the Union address, Rick Judson, chairman of the National Association of Home Builders (NAHB), issued the following statement: “Extremely tight mortgage credit conditions are hampering the housing recovery and hurting job growth. The nation’s home builders were very pleased to hear President Obama acknowledge this fact when he said ‘too many families with solid credit who want to buy a home are being rejected.’ The President further noted that the housing sector must be involved in the rebuilding effort and we wholeheartedly agree. Building 100,000 homes creates 300,000 full-time jobs. With the right policies in place, housing can continue to lead the economy forward. NAHB stands ready to work with the Administration, Congress and regulators to ease restrictive lending requirements so that qualified home buyers can obtain affordable home loans and to open up the lines of credit for home builders so they can meet growing demand in communities across the nation.”

(Photo credit: National Association of Home Builders–modular under construction)

President Proposes Mortgage Refinance Program

January 25th, 2012 Comments off

Barack Obama by The Obama-Biden Transition ProjectIn his State of the Union Address Tuesday, President Barack Obama proposed a mortgage refinance program to help homeowners take advantage of the current low interest rates. The president says he is sending Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage. The program would be financed by a fee charged to large financial institutions that the president says will give banks that were rescued by taxpayers a chance to repay a deficit of trust. Obama also spoke in favor of regulations that would make keep the housing crisis from happening again. “We’ve all paid the price for lenders who sold mortgages to people who couldn’t afford them, and buyers who knew they couldn’t afford them. That’s why we need smart regulations to prevent irresponsible behavior. Rules to prevent financial fraud, or toxic dumping, or faulty medical devices, don’t destroy the free market. They make the free market work better.”

(Image Credit: Barack Obama by The Obama-Biden Transition Project/Wikipedia)