President Unveils $75 Billion Plan
In Alachua County foreclosures have gone up since 2006, but at a slow pace. Levy County also saw a rise in foreclosures. Filings doubled between 2006 and 2008. Marion County has seen the highest rise in the number of foreclosure filings. They went from just over 1000 in 2006 to nearly 5000 in 2008.
Wednesday President Obama announced his plan to help as many as nine million homeowners trying to stay afloat.
Wayne Archer, Executive Director of the Bergstrom Center for Real Estate Studies at the University of Florida, said he was impressed with the President's plan.
"I think that this is a major commitment to change the direction of things," said Archer. "We have four to five million homeowners that are able to refinance by this means and reduce their burdens."
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