Friday, February 25, 2011

Republicans attack Obama homeowner relief

WASHINGTON (CNNMoney) -- In the latest blow to Obama signature programs, Republicans are now aiming to kill several White House plans aimed at keeping underwater borrowers in their homes. The House GOP announced hearings for next week aimed at ending "failed and ineffective" housing programs. The four plans on the chopping block include the Home Affordable Modification Program (HAMP), the Neighborhood Stabilization Program, the Federal Housing Administration Refinance Programs and the Emergency Homeowner Relief Fund. The move would save about $38 billion remaining and unspent by the four programs, according to House Republicans. "In an era of record-breaking deficits, it's...

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