$3 Billion more to help homeowners

Jeff Tung — Fri, 13 Aug 2010 23:36:08 +0000

Our government has said they would spend another $3 billion to help homeowners keep their home if they lost their job or have a medical condition that reduces their ability to work. Eligible homeowners could receive a no-interest loan up to $50,000 for as long as 24 months and stay in the home. This program is to prevent further home foreclosures, but will it help and make a difference? According to RealtyTrac, foreclosures have increased 8% to $1.65 million in the first 6 months of this year with the current programs, so will this help or are we digging a bigger hole in the money pit for the next generation to cover? I hope it does help and get us out of this mess. However, it’s going to take some time to see if the extra money spent will make a difference, but at least, the government is trying to help people keep their homes.

HUD offers interest-free $50K loans to unemployed homeowners to stem foreclosures (hotair.com)
Foreclosures are up and foreclosures are down – learn why (agentgenius.com)
U.S. home foreclosures surge (theglobeandmail.com)
July foreclosures surge 15% in Washington state (seattletimes.nwsource.com)
Foreclosures surge (capitolhillblue.com)
Government to spend $3 billion to help homeowners (marketwatch.com)
Homes lost to foreclosure up 6 pct from last year (sfgate.com)
Homes lost to foreclosure up 6% from last year (usatoday.com)
Billions to fund more programs to help homeowners – helpful? (agentgenius.com)
$3 billion more for jobless homeowners (money.cnn.com)
U.S. Treasury expands homeowner aid for jobless (reuters.com)
HUD Just Announced A Homeowner Bailout (businessinsider.com)
“Obama Administration (Via Taxpayers) To Provide $3 Billion In Housing Aid To Unemployed Homeowners” and related posts (bookerrising.net)

Jeffrey Tung's Real Estate Blog » unemployment

$3 Billion more to help homeowners

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