Obama says housing help just for ‘responsible’ homeowners
Obama unveiled a housing plan on Wednesday that aims to stem home foreclosures and draw a line under a problem that sparked the nation’s financial crisis.
But the assistance the president outlined had a caveat – only “responsible” homeowners need apply.
“I want to be very clear about what this plan will not do: It will not rescue the unscrupulous or irresponsible by throwing good taxpayer money after bad loans,” Obama told an excited crowd in Arizona, the home of his former presidential rival, Republican John McCain, and a state that has been especially hard hit by the housing crisis.
“It will not help speculators who took risky bets on a rising market and bought homes not to live in but to sell,” he continued.
“And it will not reward folks who bought homes they knew from the beginning they would never be able to afford.”
-Photo credit: Reuters/Joshua Lott. (Obama speaks in Mesa, Arizona, Feb. 18, 2009)