
Today is the big day! What day is that you ask? Well, it's the day that Treasury Secretary Tim Geithner is supposed to announce what the Obama Administration is planning on doing about the foreclosure crisis, of course!
How the administration plans on addressing the crisis remains a mystery, all we do know is that they want to invest somewhere in between $50 and $100 billion and modify the mortgage loans. Today we will only learn the gist of the plan, the details aren't expected to be announced for another couple of weeks.
Whatever the Obama Administration plans to do, though, they need to do it quickly, according to the Center for Responsible Lending, a new foreclosure is started every 13 seconds!
According to Realtytrac, Florida is the leading state in foreclosures with Miami-Dade county in the lead!