Actually, Obama/Biden passed a big program in 2009 to let people modify loans and avoid foreclosure. It ultimately saved 1.6 million homes.
Trump, by contrast, just wants to pause FHA foreclosures (a tiny fraction of all mortgages), and only for 2 months. That's just nothing.
Trump, by contrast, just wants to pause FHA foreclosures (a tiny fraction of all mortgages), and only for 2 months. That's just nothing.
Also, for what it's worth, literally the VERY FIRST THING Trump did after being sworn into office was to cancel a planned rate cut to FHA mortgages Obama had planned.
That alone probably caused more foreclosures over the last 3 years than Trump's emergency pause will delay.
That alone probably caused more foreclosures over the last 3 years than Trump's emergency pause will delay.
I'm wondering how many of these Very Online Leftists who are cheering on Trump as more progressive than Obama on home loan credit policy have ever owned a home, or had a mortgage. How many have ever actually interacted with this system or understand the realities borrowers face?
(And yes, I am aware that is only because Millennials and Zoomers have been royally fucked out of homeownership by conservative federal policy. But that's beside my point.)
