North Carolina Governor Mike Easley continues to promote foreclosure prevention solutions as he gets another opportunity to expand his influence before leaving office next month. From the Housing Crisis to the Credit Crunch, many people are anxious to promote fiscally responsible solutions, but as our economy staggers, Is now the time?
In a recent article, Gary Robertson considers the impact that President-elect Barack Obama had when joining the governors and governors-elect last week in Philadelphia to talk about an economic stimulus package, Easley gave a brief talk about a mortgage foreclosure reduction program he persuaded the Legislature to approve last summer. Two days later, Easley was in Florida at a conference of his old attorney general friends nationwide about the mortgage refinancing plan that already is trying to help thousands of homeowners with subprime mortgage loans threatened with losing their homes. “Almost everyone has come through that they have been able to restructure mortgages with reduced interest rates or an extended term in which to pay back the home loan,” Easley said in a recent interview about the Home Foreclosure Prevention Program. “Loan modifications can be a good deal for the banks, as well as for homeowners, and it helps our economy. All states need to be doing these type of things.” The Associated Press reported that there is nothing unusual about North Carolina governors emphasizing their accomplishments as they leave office or highlighting items that have been or could be imitated elsewhere. Learn more about the > Sub-Prime Mortgage Debacle.
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