Presidential Candidates on the Issues

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Housing/Foreclosure

Barack Obama: Under Obama, the Justice Department, state attorneys general and banking regulators have collectively negotiated a $26 billion landmark settlement with five major banks that will help two million homeowners refinance their loans or lower the principal owed and to end fraudulent, abusive lending practices. Obama says that even more must be done to help struggling borrowers.

Newt Gingrich: Gingrich does not believe that the government should do anything to help ease the foreclosure crisis. He also has proposed that Fannie Mae and Freddie Mac be broken up into smaller units and over a five-year period gradually stop being under government control.

Mitt Romney: In October Romney said that the foreclosure crisis should run its course and hit bottom and does not believe that the federal government should intervene to help borrowers refinance their loans.

Rick Santorum: Santorum advocates letting the housing market find its bottom and rebuild from there. He also doesn’t believe that government should help borrowers save their homes.

(Photo: Carlos Barria/Reuters)

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