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Well the president today visiting the state with the highest.
Foreclosure rate in all the nation and he's -- of one -- a new plan to help struggling homeowners.
White House officials in Nevada say that that president will promote new rules -- federally guaranteed mortgages.
Dealt more borrowers who have -- -- -- equity in their homes.
Refinance at a lower rate the Fox Business network's Gerri Willis is with us to give us her two cents and -- You'll be able to finance.
Even if you're under water that's right so.
This targets people who are current on their mortgage -- -- people are having trouble right and -- of people paying their mortgage.
But they know more than -- house is worth so they're going to allow these people to refinance at today's bargain rate mortgage rates four point 1%.
No appraisal so that means the Fed bank and in gonna come -- and say well your house is only worth half what you thought.
-- in a -- reduce speeds so it's a fascinating efforts which were try to pump life into this.
Dead housing mark.
And it's doing so with people who've done their best after all they've been current for six months and I'm curious about how all the rest these programs -- -- Not good.
-- in short now the president promised whose gonna help nine million people.
He actually helped something like one point seven He was gonna spend fifteen -- pardon me fifty billion He spent 2.4 billion.
At the end of the day a lot of the banks just didn't wanna work in some of these programs -- wanna go along to get along because they're worried about losing money it also raises.
Questions frankly about this program because these banks would have to forego sound.
Revenue streams they thought they were gonna get back to lock in rates it may be 4% or lower incidence 6% they thought they were gonna.
Then after Jerry Willis what's view week nights on the Fox Business Network will support -- 5 o'clock eastern 7:4 central.
-- don't get the Fox Business Network demanded -- is that message playing politically Frazier -- Telus and it is here with us.
He's the president of emerald partners public relations consultant.
And author of the book the practice of public relations -- I guess it depends on who you're listening to about how this is playing but your sense in the broad scope of things.
Well he's he's he's obviously trying to get -- mode yelled back it's oui got a year left for the campaign so he's now in campaign mode he's a good campaign.
Basically -- Jerry said two words do something in this guy's been criticized for being indecisive.
It incapable of taking action Steve Jobs you've been criticized him in this in this.
Book as saying that He was frustrated with Obama -- it never does anything -- now he's taking action number one.
Number till he's going to the people he's taken it to the streets bypassing congress people don't like this president.
But what they don't like worse is the congress so that's good.
And thirdly -- this PR strategy Germany's trying to put the Republicans in a box a box of no.
A box -- -- all.
A box of running out the clock until Obama leaves and his slogan here which the Republicans -- Pope who would I don't think it's Pope mobile -- is.
We can't wait and as Jerry said there are a lot of people underwater.
Whose words aren't worried student loans need jobs and so on.
He's taking it correctly it seems to me -- this the only strategy he's got left seems to me it's a good -- -- there's no indication that congress is gonna pass anything in his -- or is there.
Now there's now an -- congress is gonna pass anything and He can do this administratively He doesn't need congress to put this plan into place.
-- this spending on the part -- says it's Fannie -- it's Freddie Mac will do even more spending a lot of the loss would go to the banks to at the end of today.
I think He can do this just by flipping -- It sounds to me from from all the feedback that we get from viewers and otherwise.
What the people want is some solutions and -- not really interest in a partisan politics in which both sides are engaging.
You know that's the key shepherd in other words the Republicans.
Make a big mistake.
If they confuse the antipathy to the president.
With any endorsement of their own behavior or actions people want actions we don't like to any of them we want something done that's the point.
Of course if the president is able to say to the people the congress has not done anything that we know fix this.
It's it's a matter of figuring out who to blame the Republicans will say the president's been ineffective the president will say that the congress will not pass -- think it's about who gets boy.
But see that's the that's the key is we Jerry just said that he's going -- with Fannie -- he's working with Freddie Mac.
He's working with the banks he's bypassing congress and if this thing works.
At -- -- It's his credit what -- the analysts saying about the possibility of this work there's not a lot of optimism out there frankly because we've -- about it so many programs that just did nothing at all not many people helped.
And all you have to do is look at what's going on in the housing market right this very minutes and now.
We haven't found the magic bullet.
And I guess what He needs as a magical PR recipes well both sides different this strategy makes sense in this country He said.
People are equal opportunity despite users of politicians we want somebody to do something if heat.
Looks like he's trying to do something it will -- down to his benefit phrases that -- -- Willis thank you.
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