Presidential Candidate Platforms on Housing

Senator Clinton

Expand Access to independant face-to-face counseling

Ensure that financial counseling is available to borrowers before they take out mortgages. Expand access to programs and initiatives that assist at-risk borrowers. National Community Reinvestment Coalition's "Consumer Rescue Fund" can provide borrowers unbiased advice on lenders, loan types, refinancing options, etc.

Encourage Refinancing when the loan floats or the payment shock hits.

Limiting the length of time for which prepayment penalties apply, and prohibiting prepayment penalties on mortgages with rates above a specified level.

Require 'plain talk, no fine print disclosure.'

Protections offered by the Truth in Lending Act and existing federal regulations should be strengthened.

Promote Foreclosure Timeout

Creating incentives for lenders to identify troubled mortgages and sit down with borrowers and try to figure out a way to restructure the loans before foreclosing. Give borrowers some period of forbearance in which they could get their financial house in order.

Strengthen the FHA's Mortgage Insurance Program

Reintroduced the 21st Century Housing Act, which strengthens the FHA, makes FHA loans available to more Americans, and expands access to a responsible and stable alternative to the subprime market. would raise existing FHA mortgage limits in high-cost areas like New York and California, making FHA an option for borrowers in those places.

Senator Obama

Increase the Supply of Affordable Housing

Create an Affordable Housing Trust Fund: Obama will create an Affordable Housing Trust Fund to develop affordable housing in mixed-income neighborhoods.

Fully Fund the Community Development Block Grant: Obama will fully fund the Community Development Block Grant program and engage with urban leaders across the country to increase resources to the highest-need Americans.

Senator McCain

None posted.