This morning, federal officials released details of the Obama $75 Billion loan modification and refinancing plan for foreclosure prevention. This plan follows the $8000 first-time homebuyer tax credit initiative unveiled in late February.
It is clear is that the Obama administration is dead serious about allocating financial resources (and taxpayer money) to stimulate the economy through investment in finance, banking, and home-ownership. Because these subsets of our economy are to a large degree interdependent, it is imperative to stabilize all of these sectors simultaneously to effectively begin to stem losses and boost confidence.
Will these initiatives serve as a catalyst for growth?