Even in a stronger real estate market like Seattle, many homeowners still need help to stay in their homes. Obama will outline the details for his upcoming plan to stabilize the mortgage industry in order to help struggling homeowners. In anticipation of the plan, government-controlled mortgage finance companies have halted all foreclosures until March 6th. Obama seems to recognize the importance of housing in relation to the nation's economy and is expected to allocate roughly $50 billion to keep homeowners in their houses.
While foreclosures are higher in the Seattle area than in years past, other areas have been hit much harder by the downturn in real estate. One of those, Arizona, is where Obama has chosen to deliver his address for the mortgage plan.
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