Obama Calls For Aid For Homeowners, Not Speculators

Democratic presidential candidate Barack Obama says he'd support federal aid for people facing foreclosure on their homes and reforms of mortgage industry.

But Obama says he does not want protect speculators caught in the housing downturn.

Illinois senator made the comments at a campaign stop in the west side neighborhood of Las Vegas.

He spoke before an audience of more than 1,000 people.

Obama says he wants to set up a fund for homeowners on the brink of losing their homes.

The money would come from fines collected from lenders found to be practicing predatory lending.

Other major Democratic presidential candidate have proposed similar reforms and aid funds for homeowners at risk.


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