President Barak Obama said on Monday that he supported changing the rules to let judges modify first mortgages to prevent home foreclosures. Obama told a townhall meeting in Elkhart Indiana, as he campaigned for an $800 billion economic stimulus package being debated by lawmakers.
"If you are like most people, including me, and you've got one house ... it turns out that under current law you can't modify that mortgage if you are in bankruptcy," Obama told a townhall meeting as he campaigned for an $800 billion economic stimulus package being debated by lawmakers.
It really is the best, cleanest, fairest, most common sense way to deal with the foreclosure crisis, ensuring that the Wanker Caucus in the Senate won't let it happen.