Create a foreclosure prevention fund to help homeowners (Comments)
Create a $10 billion fund to help homeowners refinance or sell their homes. "The Fund will not help speculators, people who bought vacation homes or people who falsely represented their incomes." — "Obama: Protecting Home Ownership and Cracking Down on Mortgage Fraud"
Create a White House office of Urban Policy and appoint Director of Urban Policy (Comments)
"I will also appoint a new director of urban policy, who will cut through the disorganized bureaucracy that currently exists and report directly to me on how these efforts are going." — 7/18/07, Washington, D.C.
Allow bankruptcy judges to modify terms of home mortgages (Comments)
Will repeal provisions of the Chapter 13 law that prohibit bankruptcy judges from modifying the original terms of home mortgages for ordinary families—regardless of whether the loan was predatory or unfair or is otherwise unaffordable - "so that ordinary families can also get relief that bankruptcy laws were intended to provide." — "Obama: Supporting Urban Prosperity"
Place a moratorium on home foreclosures (Comments)
"I'll put a three-month moratorium on foreclosures so that we give homeowners the breathing room they need to get back on their feet." — 10/22/08, Richmond, Va.
Change bankruptcy laws (Comments)
"I'll close the loophole that allows investors with multiple homes to renegotiate their mortgage in bankruptcy court, but not victims of predatory lending." — 2/13/08, Janesville, Wis.
Make mortgage information clearer (Comments)
"Obama will create a Homeowner Obligations Made Explicit (HOME) score, which will provide potential borrowers with a simplified, standardized borrower metric (similar to APR) for home mortgages." — Obama's Blueprint for Change
Help homeowners refinance their mortgages (Comments)
"Obama will create a fund to help people refinance their mortgages and provide comprehensive support to innocent homeowners." — Obama's Blueprint for Change
Crack down on mortgage fraud (Comments)
"We will crack down on mortgage professionals found guilty of fraud by increasing enforcement and creating new criminal penalties." — 7/18/07, Washington
Replicate Harlem Children's Zone (Comments)
"When I'm President, the first part of my plan to combat urban poverty will be to replicate the Harlem Children's Zone in 20 cities across the country." — 7/18/07, Washington, D.C.
Help communities encourage businesses (Comments)
"When I'm president, I'll make sure that every community has the access to the capital and resources it needs to create a stronger business climate." — 7/18/07, Washington, D.C.
Help revitalize inner cities (Comments)
"Obama will help local entrepreneurs revitalize inner cities." — Obama's Blueprint for Change
Create an affordable-housing trust (Comments)
"As president, I'll create an Affordable Housing Trust Fund that would add as many as 112,000 new affordable units in mixed-income neighborhoods." — 7/18/07, Washington, D.C.