Politics. On Point.

"No more red tape."  "Fairness and responsibility." In a Town Hall Twitter session at the White House last July President Obama, when asked what he would have done differently since he became president answered, "I wish I could have done more to help homeowners stay in their homes ." President Obama holds up a proposed one-page mortgage application at James Lee Recreation Center in Falls Church, Va. Speaking today, speaking at the James Lee Recreation Center in Falls Church, Virginia, the president outlined his plan to help responsible homeowners, those he described as those who "paid their mortgages on time", and played by the rules, recover from a housing bubble that saw many Americans lose their homes due to unfair practices by credit lenders and mortgage companies. "It was wrong.  It triggered the worst economic crisis of our lifetimes.  And it has been the single biggest drag on our recovery from a terrible recession", ...

Either the president is a man of his word, or he was using yesterday's Twitter Town Hall event to plug his next program effort. Yesterday, the president, when asked what he would do differently about handling the recession America experienced the last two years, answered that he would have tried to prevent more people from losing their home. Today, the White House Press Office put out a statement that Obama officials will convene a media conference call with Secretary of Housing and Urban Development Shaun Donovan to announce new housing program improvements to help unemployed homeowners.  The program will require home loan servicers to extend the forbearance period for unemployed homeowners with Federal Housing Administration (FHA) insured loans to 12 months. Servicers participating in the Making Home Affordable Program (MHA) will also be required to extend the forbearance period for unemployed borrowers to 12 months wherever possible und...