Clinton, Obama on the housing crisis

April 17, 2008 4:05:00 PM PDT
All this week we will be taking a closer look at where Hillary Clinton and Barack Obama stand on crucial issues.Both Barack Obama and Hillary Clinton would create funds to help people avoid foreclosure. Both, as well, would take action through the Federal Housing Authority to support subprime mortgages being converted into more stable, fixed mortgages.

Both would also require more disclosure and higher standards for lenders and brokers.

Clinton, though, charges that her plan is more "vigorous" than Obama's.

"I am the only candidate who has consistently said we have to put a moratorium on home foreclosures, help people stay in their houses. That's a much better solution than trying to take care of them after they lose their homes. Let's be sure we freeze those interest rates," Senator Clinton said.

Obama says he's tailored his program to help people in primary homes, not speculating investors and argues some of Clinton's ideas, like the freeze in interest rates for five years, would hurt other families not caught up in the crisis.

"I think that would be a mistake because the way that lenders, who right now don't want to lend at all, would respond, I think, would make it even tougher for ordinary families to get the kind of refinancing or new mortgage that they need," Senator Obama said.

You can read more about each candidate's plans by clicking on the links listed below:

Barack Obama's housing crisis plan

Hillary Clinton's housing crisis plan