Foto:David Zalubowski / AP

Three snapshots of the president Barack Obama taking a (left) pen, signing (center), and then joking on having to sign the stimulus bundle with more than one pen, on Tuesday, the 17th in Denver, Colorado.

Washington Hispanic /
AP

In the middle of big expectation he announced from the city of Denver, Colorado, a legislation to himself without
precedents to stimulate the weak economy of the nation.

The president Barack Obama, in a career against the time for revertir the economic disaster in the United States, promulgated on Tuesday, the 17th an enormous stimulus bundle and proposed on the following day a new rescue with 75.000 million dollars for the Americans' legions in risk of losing his houses.
Obama concentrated the attention on the plan of economic stimulus for 787.000 million dollars, an ambitious bundle with federal expense and fiscal reductions that there has the intention of re-living to the economy and of creating or of saving 3,5 million work places.
Most of the wage earners soon will see in his first salary a fiscal mitigation that will totalize 400 dollars for person and 800 dollars for couple.
The stimulus plan was a big victory for Obama at least of one month of coming to the presidency. But it presented a sober tone and diminished the expectations of one I overturn immediately in the severe recession that advances about his second year.
“ Nothing of this will be easy”, it expressed. “The way of the recovery will not be direct. We will have progresses, and there might be some bassoon in the trajectory”, it added.

THE number
400 dollars for person and 800 dollars for couple there will be the fiscal mitigation that the taxpayers will find in his first salary, thanks to the stimulus plan.

Nevertheless, he declared, “we have begun the essential work of keeping the American dream alive in our epoch”.
The plan has the intention of opening the way so that the Americans begin to “to claim a proper destination”, said Obama shortly before signing the document in Denver, where it gained the democratic presidential candidacy last year.
The bundle with a colossal governmental expense and a program of fiscal reductions was conceived to stop the fall in sting of the economy. He injects funds into projects of infrastructure, health, renewable energy sources and conservation. There is a tax exemption for 400 dollars for most of the workpeople and of 800 dollars for the couples.
The stage, the Museum of Nature and Science of this city, took as an object to highlight the investments that the new law will do in work places related to the clean energy. Also it allowed to Obama to remove of Washington, where the approval of the law was practically a partisan question, to surround itself with those who might benefit with the enormous intervention of the government.
In a speech in Denver, before signing the stimulus plan, Obama warned the Americans who do not wait for a prompt drastic draft in the economy and that the intervention of the government had ended.
“ I do not want to feign that today it marks the end of our economic problems”, showed Obama. “It does not also constitute everything what we are going to have to do to stand up to our economy. But today yes it marks the beginning of the end”, he said then.
Obama has resorted to presentations in the whole country to promote his economic plans with the hope of which to achieve support and to re-live through the hope between the Americans who grant him a big support in the opinion polls. The presidential trips confirm the public support to his economic plan with the partisan ambience that reigns in Washington, where the republicans push back almost in unanimous form the stimulus program.

According to last survey
The worry increases
The quantity of the people worried by the possibility of losing his work places, of not being able to pay his accounts or of seeing softening his retirement savings it is increasing, it revealed an AP-GfK opinion poll spread on Wednesday, the 18th.
*Casi 75 % of the interrogated persons said that it meets someone that the state of the economy has lost his employment in last six months due to the dweeb.
*Cerca of 50 % it expressed fears of losing his work, almost the double of those who were saying the same last year.
*Un 52 % supports the plan of economic stimulus promoted by the president Obama, compared with 55 % last month.
*El 47 % is afraid to lose his work. In a similar survey in February, 2008, only 28 % had this worry.

Mitzi Mace
Washington Hispanic

With a reality that the plan will not be able to save all the houses, the president Barack Obama presented his proposal to relieve the crisis that crosses the mortgage sector.
Although it has still to be a pass for the Congress the initiative will allow to 9 million persons to remain at least in his hearths creating mechanisms and economic support to realize refinancings and loan adjustments to the persons who qualify.
Under the plan for 75 billion dollars there will be able to refinance even those persons whose value of his property is below his debt. One of the critical mayors who has received the Obama plan is that only it establishes help for the refinancing of those loans that are a property of Fannie Mae and Freddie Mac, financial institutions that went on to hands of the government last year.
“ Although the details are still not available, NCLR supports firmly the handlebars of modification of loans that must continue the entities that receive federal funds. Nevertheless, given the recent ineffective record of the voluntary programs, we worry that some lenders or investors decide not to take part in the plan, and a significant segment of proprietors of house who deserve assistance they might end without help. We do then called to that all the lenders accept this plan and that throw an aggressive campaign to modify the mortgages that are at the edge of being impeded”, expressed in a bulletin the executive president of the National Council of The Race (NCLR, for his initials in English) Janet Murguía.
It is not possible to establish to true science yet who are going to benefit because the guides for the modification of the loans and the requisites to qualify will be announced on March 4.
Another favorable point of the plan is that it will allow to the bankruptcy judges to realize modifications of loans, but this aspect has not remained yet definite.

What help is there for borrowers who know in his payments and the value of his house has been devaluated?
The Plan gives them the opportunity to refinance requesting a loan with fixed interests, term of payment in 15 ó 30 years, the owners of housing who expire with the requisites and who know in his mortgage loans, but who could not have refinanced with lower interests because his housing has been devaluated. With this program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that are of his property or that they placed like qualifications values endorsed by mortgages.

Mauricio Zelaya points out that not only it has lost a stable future for his family but it has turned out to be forced to live in inhuman conditions in the house that is in risk of losing. Photo: Washington Hispanic

Bertha Sáenz
Washington Hispanic

“These deposits, they are to bring water that a friend offers me to be able to survive inside my house” … these are the words of Mauricio Zelaya who is a father of five children and has been a victim of mortgage fraud for a group of lenders without license who have left it practically in the street. And to that it joins the fact of having remained without work in the middle of the economic crisis through that the nation lives.
Mauricio Zelaya emigrated nine years ago of El Salvador and with a lot of effort he managed to buy his house in May, 2001, located in 1800 Chillum Road, of the area of Hyattsville, in the county of Prince George's. “My family and I we were supporting a normal life, I was employed at construction, we were paying the house as well as our utilities and I thought that it was a good moment to extract little money of the property, which one had value, for what I tried to do a refinancing. The problem was that I chose the persons mistaken to do this step, since they defrauded me”, he told.
This fraud happened on April 6, 2007. While the Zelaya were traveling for El Salvador on April 4, the lenders forged his signature and did the closing of the deal without his authorization; a few weeks after his return he had the money in his hands. “I never knew what the terms of the new loans were. Some months later I found out that they had penalized the loan for three years and that they had put a variable money-market rate to me, what produced that after a few months the monthly salary was increasing to $ 2,374”, he said.
“ Hardly I could pay this quantity – it added - and last year, in February, Indymac sent to me a letter of foreclosure (process of sequestration), who was announcing to me that I had to present myself to the court and that he had to pay $ 10.000 to expire with the procedure before the judge, because if it did not have this quantity it had to put my house in auction to sell it”.
Zelaya came before the councilman of the County of Prince George's, Will Campos, who stretched the hand and contacted with John Kenworthy of the company Debt Freedom his USA, which it specializes in helping the persons with problems of mortgage executions, which is trying to help him.
But the case of the swindle of that victim was the family Zelaya, has cost them more than the fact of losing a stable future inside in a proper house, the verse forced to live in inhuman conditions, since for living in a house that it has months in foreclosure they have cut the water, the gas, and live in a property spoiled for not having the possibilities economic to give him the suitable maintenance.
For the time being, Mauricio Zelaya has no work because it is incapacitated by a car accident and lives of the pension of the Social Insurance and his wife works only ten hours a week.