6.21.09 Financial Overhaul Plan

Obama has unveiled his thoughts on how to overhaul the financial industry. Creating a new agency to protect consumers, simplifying the home loan process as well as making a traditional 30 year fixed rate mortgage loan the default option for homebuyers are some of the ideas coming to light in the last week. Read more here on the ways in which the goverment could try to take control of the housing/mortgage industry in order to alleviate the problems caused by the housing bust.