Department of the Treasury

Housing Plan Includes $5,000 Borrower Incentive 

President Barack Obama on Wednesday will formally unveil the foreclosure mitigation plan. Before the announcement, his administration as well as the Treasury Department released some details regarding the much-anticipated plan, which will cost $75 billion — $50 billion of which will come from the Troubled Asset Relief Program. The Treasury also said it is increasing its preferred stock purchase agreements with the GSEs to $200 billion each from the original $100 billion level.