Mortgage Aid Coming from Obama?

The White House is supposedly working on some type of new program to aid the mortgage and housing markets with an announcement coming by mid-September. At press time details were sketchy but rumors are starting to float around Washington about what the plan might entail. "It might be a temporary mortgage assistance program," one source said, though it's unclear how this might differ from HAMP. We're told what's being contemplated — which might come through HUD — is not necessarily an extension of the popular home buyer tax credit, which expired in the Spring. Of course, with the election a little more than 60 days away, the White House has to do something if they want to retain control of the House, which increasingly looks like they will lose. And if they lose the House, Rep. Barney Frank of Massachusetts, will no longer be heading the Financial Services Committee...