Word: plan
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...Kennedy Center, six years ago it announced plans to completely reinvent its setting. The $650 million redesign, by the prominent architect Rafael Viñoly, envisioned a four-square-block fountain plaza built over that tangle of roadways, two sizable low-rise buildings that would face the center from across the new plaza, and a long boulevard of reflecting pools. The idea was to make the place more like part of an ensemble of pavilions, less like the lonely white palazzo that it remains - and will remain for some time. Two years after the expansion plan was unveiled...
...Obama Administration rolled out its much awaited foreclosure-prevention plan on Wednesday, saying it could help as many as 7 million to 9 million homeowners meet their mortgage payments. In contrast to last week's detail-light financial-rescue blueprint, the multipronged policy to shore up the housing market, announced by the President on a trip to foreclosure-riddled Phoenix, was packed with specifics. Key components include modifying the terms of delinquent loans, refinancing underwater mortgages and plowing more money into the federal housing agencies in order to keep mortgage rates...
...effective all that will be remains unknown. No plan can change the fundamental economics of a bubble deflating or an economy stalling - of overpriced homes returning to more reasonable prices and out-of-work homeowners not having the income to make mortgage payments. What this plan does offer, though, is a series of targeted interventions designed to help specific groups of borrowers and by doing that, it's hoped, limit the knock-on damage caused by foreclosures both to neighborhoods and to the overall economy. "This will help some people who deserve to be helped," says Joe Gyrouko, a professor...
...main part of the plan calls for spending up to $75 billion of Treasury's TARP funds to restructure the loans of homeowners who are behind on their mortgages or at immediate risk of falling behind. Since foreclosure is such an expensive process, most lenders are already modifying some loans voluntarily. But mortgage rewrites haven't necessarily been lowering borrowers' monthly payments by much, if at all - and people whose loans are held by investors have often been left out in the cold...
...Gibsons were offered eight $50 vouchers, but they declined; they don't plan to fly AirTran ever again...