The Obama campaign pounced Thursday on Sen. John McCain’s proposal to wipe out $300 billion in negative equity and save homeowners from foreclosure by buying up mortgages directly from mortgage servicers.

Unlike the $300 billion "Hope for Homeowners" expansion of FHA loan guarantees that kicked off this month, the McCain Resurgence Plan wouldn’t require lenders to write down the principal of loans it refinanced.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top