In March, proposed a "second stimulus" plan, which includes a $30 billion emergency housing fund to avert foreclosures and provide mortgage refinancing. Wants more money for low-cost Federal Housing Administration loans for home buyers. Would replace unworkable mortgages with stable fixed-rate loans and make mortgage credit available to credit-worthy buyers despite banks reluctance; create tougher state-wide licensing standards as well as a federal statute to prosecute fraudulent consultants and amend the bankruptcy code in order to give judges the power to write down the value of homes,

In March, McCain said, "I will consider any and all proposals based on their cost and benefits." Though he opposes a broad government bailout, he says "government assistance to the banking system should be based solely on preventing systemic risk" to the financial system and the economy. Under his HOME plan, Americans in danger of losing their homes would be eligible for a new 30-year fixed-rate loan backed by the federal government.Favors greater transparency in the lending process so that every borrower understands the exact terms of their mortgage and he favors raising the initial down payment requirement for FHA loans.

Supports creation of a federal fund to help homeowners refinance their mortgages to avoid foreclosure; funding would come from penalties levied on lenders who act irresponsibly. Would strengthen anti-predator lending laws and provide a tax credit equal to ten percent of a family’s mortgage interest payment each year. Would create a five-star rating system to disclose a credit card’s risk level to consumers.