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If passed by the Senate and signed into law – H.R. 1106 – Helping Families Save their Homes Act of 2009 would empower judges to reduce amount of principal owed, cut the interest rate or extend the length of a loan for a homeowner struggling with their mortgage.
The Fourth District, long plagued by high foreclosure rates, is projected by the Center for Responsible Lending to have more than 10,200 foreclosures this year. According to RealtyTrac, there were more than 1,200 Fourth District homes in the foreclosure process in January 2009 alone.
It comes on the heels of Johnson’s first telephone town hall meeting held Feb. 24 from his office in Washington, D.C., in which he reached out to 25,000 Fourth District residents to discuss the Recovery Act.
The $787 billion plan that President Barack Obama signed into law will bring about $6 billion to Georgia, including millions of dollars for the transportation, schools, small business and healthcare needs in DeKalb, Rockdale and Gwinnett counties.
NCPW 2009 – Nuts and Bolts: Tools for Today’s Economy – highlights consumer education efforts across the nation and the state. Information can help people get the most for their money, whether they are trying to stretch their paychecks, find a quick fix for a spotty credit history, or tell the difference between a real deal and a potentially fraudulent product or service.
Among other things, the hearing focused on the proposed merger between Ticketmaster and Live Nation, which could combine the nation’s biggest concert promoter with the largest seller of tickets for live entertainment.
“The package, which is a balance of tax cuts and investments, is an effort to help lift our sagging economy and put people back to work,” said Johnson, citing the loss of jobs as his biggest concern.
Altogether, the plan combines $310 billion in investments for infrastructure, clean energy, transportation, healthcare and schools; $285 billion in tax cuts to individuals and businesses and $192 billion for benefit programs such as unemployment and food stamps.
President Barack Obama signed the bill into law this afternoon.
H.R. 2 will provide an additional $32.8 billion over four and a half years for the State Children's Health Insurance Program (SCHIP), known in Georgia as PeachCare. In 2008, SCHIP provided health insurance for 7.1 million children nationwide. H.R. 2 will expand SCHIP to cover an additional 4.1 million. PeachCare provides essential health insurance for nearly 300,000 Georgian children whose families do not qualify for Medicaid.