Obama, Dems Ready to Move on Housing

Goals: Boost lending, prevent foreclosures

Matt Carter
Inman News

Barack Obama will be sworn in today as the nation’s 44th president with a green light from Congress to unleash the second half of the $700 billion Troubled Asset Relief Program, and with legislation providing an additional $825 billion jolt to the economy on tap.

Before Obama took the oath of office, lawmakers had introduced a slew of measures in the new year aimed at spurring home purchases and preventing foreclosures. Some of those measures — including tax breaks for first-time homebuyers, and a return to the higher loan limits in place for Fannie Mae, Freddie Mac and FHA during 2008 — are likely to be part of a massive economic stimulus bill.

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