Obama unveils plan to tackle mortgage crisis

February 19th, 2009 - 1:06 am ICT by IANS  

Barack ObamaWashington, Feb 18 (Xinhua) US President Barack Obama Wednesday unveiled a mortgage relief plan in an effort to prevent more Americans from losing their homes.
The plan is expected to help between seven million and nine million American families to avoid foreclosure, said the president in an address in Mesa, Arizona.

However, the plan will only help those who played by the rules, he stressed, adding that it won’t help speculators who took risky bets on the market or dishonest lenders who acted irresponsibly.

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