Last week, I had the pleasure of attending National Journal’s Policy Summit on Washington’s role in keeping American homeowners afloat. The debate focused on whether or not Washington is on the right course to help homeowners struggling homes worth less than their mortgage.
U.S. Department of Housing and Urban Development Secretary Shaun Donovan, Federal Housing Finance Agency Acting Director Edward DeMarco, Senator Johnny Isakson (R-GA) and Senator Jeff Merkley (D-OR) joined National Journal to discuss principal reduction initiatives, foreclosure prevention programs, and other strategies to address high foreclosure rates and how best to restore the health of the housing markets.
Obama’s “Project Rebuild,” the possibility of a principle reduction and building a “bridge” from privately held mortgage agencies to publicly held entities remained hop topics of discussion. Make sure to watch recording of the discussions below.
So now we pose the question to you – what do you think Washington’s role is in keeping American homeowners afloat? Comment below (we love We Want To Know Wednesdays)!