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.
If you know of other promises about housing,
please add them to comments.
I am a victim of predatory lending which consumed my savings, retirement, children's educational funds and almost cost me my home. For the past 4 years I have written the President, local senators, congressmen, and govenors, as well as contacted Hope Now Alliance, NACA, Maryland State DLLR and the Maryland Insurance Administration. I had temporary legal representation, however my the finacial hardship this ordeal has placed upon me, rendered me unable to afford continued legal counsel. I have filed a court complaint before the statutes of limitations expired, however without legal counsel I am unsure if I could relay all that is necessary in a court of law to resolve this crisis in my favor. My appraisal fraud is linked directly to my lender in some way, however I opted to begin with the appraisal company since it was so openly noted for fraud. The appraisal company's grossly inflated appraisals by 150,000 dollars changed the whole profile of my construction to permanent loan, costing me 40,000 dollars out of pocket, over double the quoted mortgage payment, destruction of my good credit status and total exhaustion of all savings. The appraisal company filed a Consent Order with the DLLR which is more or less an admission of wrong doing. They received a penalty which did not include restitution to the homeowner as the DLLR does not have jurisdiction for those mandates. I contacted the Maryland Insurance Administration in an effor to pressure the appraisal company's insurance company, however I just learned the appraiser did not advise the insurance company of the incident before the statutes of limitations so they are not responsible for restitution. Everyone who has reviewed my documents has concurred that fradulent practices were indeed conducted, however I have not been able to find anyone who can assist me reaching justice. I would appreicate any assistance you can offer me. My husband is a US Veteran however our home is not under a VA loan.