Barack Obama and Housing Foreclosures

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In Phoenix, Arizona today, President Obama says it's worth $75 billion to rescue nine million homeowners already in default or “underwater” with loans worth more than their houses. He said his plan would not reward “the unscrupulous or irresponsible” -- speculators, dishonest lenders or buyers who knew they were assuming obligations they couldn't afford. We hear how homeowners can qualify for assistance and get some informed reaction.

Credits

Guests:
Peter Coy - Bloomberg BusinessWeek, Peter Morici - University of Maryland - @pmorici1, Russell Roberts - Stanford University / EconTalk - @econtalker, April Charney - Senior Attorney of the Consumer Unit, Jacksonville Area Legal Aid

Host:
Warren Olney

Producers:
Andrea Brody, Karen Radziner