Real estate commission and other cool stuff
The drop in home values has hit many markets in the country extremely hard. A lot of homeowners in those markets have less equity in their homes or have loans that are larger than the price of their properties now. The number of foreclosures are at record levels and has contributed to the glut of inventory of unsold properties. The Obama administration introduced a housing aid plan that many hope will provide a boost to the real estate market and, in turn, the economy. One of the main goals of the plan is to help responsible consumers and their lenders make mortgage payments more manageable, thus reducing the number of defaults and foreclosures.