Housing Bailout At $275 Billion

Getty Images美国总统奥巴马在亚利桑那州一所高中就住房抵押贷款危机发表讲话。美国总统奥巴马承诺，将帮助多达900万陷入困境的房主为按揭贷款进行再融资或修改按揭条款。这是自美国房地产市场危机开始以来在救助房主方面的最重大举动。奥巴马的计划可能耗资2,750亿美元，它将通过政府控制的按揭巨头房利美(Fannie Mae)和房地美(Freddie Mac)，对500万住房已基本没有净值甚至所拖欠贷款额已略高于房产本身价值的房主提供再融资。政府已对这两家将在此项救助计划中充当核心角色的机构新拨了2,000亿美元支持资金。此外，政府还计划拿出750亿美元鼓励贷款机构对面临止赎风险或已进入止赎程序的房主修改按揭条款。贷款机构和政府将共同努力将月还款降低到房主收入的31%以下。为鼓励还款，计划还设立了激励措施，比如，对能保持还款的借款人提供每年1,000美元的奖励。该计划设置的激励措施获得市场赞扬。但批评人士指出，计划没能充分解决变更已被证券化的按揭贷款这个难题。同时，如果借款人的欠款超过房产的净值，或者按揭不属于房利美或房地美所有，或没有得到它们的担保，则借款人将比较难以获得再融资。这将使佛罗里达加利福尼亚和亚利桑那等房地产重灾区的许多借款人难以获得帮助。这项计划很大部分内容是敦促放贷机构对问题贷款给予重新安排。奥巴马说，他将支持给破产法官修改贷款条款权力的法案。这一有惩罚意味的措施是为进一步鼓励放贷机构采取措施预防止赎。计划的某些细节还不清楚，比如具体什么样的房主符合申请这些计划的条件。据一位官员说，这个问题政府内部也正在热烈讨论。比较具体的说明将在3月4日发布。这个计划没涉及的问题也很让人关注，比如采取什么措施刺激需求。导致房地产市场走低的一个问题是住房供应过剩。一些经济学家之前曾预计，奥巴马的计划将通过政府补贴方式鼓励放贷方降低借款利息。但现在看来，该计划似乎重在帮助那些有可能失去住房的房主。奥巴马说，该计划做不到对所有人提供帮助，比如投资者和那些已经深陷困境的人。他理解那些勤奋努力保持还款的房主可能会对该计划表示反对，但他表示，社区周围房屋空置现象减少治安稳定对这些房主也有利。奥巴马在亚利桑那州凤凰城外梅萨市发表演讲时说，如果我们能大胆而迅速地采取行动，遏制目前的螺旋式下滑势头，那么每个美国人都将受益。Laura Meckler相关阅读奥巴马将公布综合方案帮助房屋所有者 2009-02-18奥巴马签署经济法案 警告经济复苏道阻且长 2009-02-18 本文涉及股票或公司document.write (truthmeter('2009年02月19日08:14', 'FNM'));Fannie Mae总部地点：美国上市地点：纽约证交所股票代码：FNMdocument.write (truthmeter('2009年02月19日08:14', 'FRE'));Freddie Mac总部地点：美国上市地点：纽约证交所股票代码：FRE


President Barack Obama promised help for up to nine million struggling homeowners to refinance or modify their mortgages, in the most significant move to aid homeowners since the housing crisis began.The plan, which could cost as much as $275 billion, will enable as many as five million homeowners who have little equity in their homes -- or even owe slightly more than their homes are worth -- to refinance loans through government-controlled mortgage giants Fannie Mae and Freddie Mac. The administration set aside $200 billion in new backing for the pair, which will play a central role in the rescue.In addition, the government plans to spend $75 billion to encourage lenders to modify loan terms for people at risk of foreclosure or already in foreclosure proceedings. Lenders and the government would jointly lower monthly payments to 31% of homeowners' income. To encourage servicers, the plan includes incentives such as $1,000-a-year 'pay for success' fees if a borrower stays current on the loan.The plan drew praise for its use of incentives. But critics said it didn't do enough to address the difficulty of altering loans packaged into securities. It also will be harder for people to refinance their mortgages if they owe much more than the house is worth or the mortgages aren't owned or guaranteed by Fannie Mae or Freddie Mac. That would leave out many borrowers in hard-hit states such as Florida, California and Arizona.The plan relies heavily on pushing lenders to rework troubled loans. Mr. Obama said he would back legislation giving bankruptcy judges power to modify terms of loans -- a looming penalty designed to further encourage lenders to prevent foreclosures.Some details remain unclear, such as precisely who will qualify for some of these programs -- a question being hotly debated within the administration, according to an administration official. More specific guidelines will be issued March 4.The plan is also notable for what it doesn't do, such as finding a way to spur demand. One problem dragging down the market is an oversupply of homes. Some economists were hopeful the Obama plan would subsidize an interest-rate reduction for borrowers. Instead, it appears designed to aid homeowners who might lose their homes.Mr. Obama said the plan won't help everyone, including investors and those already deep in trouble. He nodded to a potential backlash from diligent homeowners who have been making their payments, suggesting they'd benefit from stable neighborhoods with fewer vacant houses.'If we act boldly and swiftly to arrest this downward spiral, then every American will benefit,' Mr. Obama said in a speech in Mesa, Ariz., outside Phoenix.Laura Meckler