Sen. Kaufman: Treasury's Plan To Fight Foreclosures Has Shifted

Sen. Ted Kaufman (D-Del.), the chairman of the Congressional Oversight Panel, says there are vast differences between the Treasury Departments original plan to solve the foreclosure crisis and what that plan has turned into today. Kaufman says it now encompasses fewer homeowners. (0:42)

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Schwartz: HOPE NOW numbers are best ever

Faith Schwartz, the executive director of HOPE NOW, talks about the organizations success so far this year. She says that the numbers for June are “the best ever,” explaining that 181,000 loans were worked out in that month alone. Schwartz also says that a total of 1.9 million foreclosures were prevented and that HOPE NOW will continue to work to reach and help more at risk homeowners. (0:43)
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Foreclosure crisis to go until 2009?

Charles Calomiris who is currently serving as a visiting scholar at the American Enterprise Institute believes that the current foreclosure crisis might go until 2009. Calomiris added that he feels we have a couple of rough years ahead but that he is optimistic about the economy. (0:27)
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Foreclosures "send a message" to neighborhoods

At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Maryland Councilmember Nancy Floreen says that foreclosed property "sends a message" to the rest of the community that they "don't need to try," and that if they're "on the edge, why not do it to?"  She said it causes others in surrounding homes to wonder why they should improve the "quality of life within a community" by cleaning up graffiti, mowing lawns, repairing broken steps, and other maintenance issues. (0:50)
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The Center on Budget and Policy Priorities holds conference call to compare the House and Senate housing relief tax packages

The Center on Budget and Policy Priorities held a conference call to compare the House and Senate housing relief tax packages. Aviva Aron-Dine, Barbara Sard, and Robert Greenstein, executive director of CBPP spoke during the briefing. (47:32)
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