Saturday, March 12, 2011

Foreclosure assistance cut in US

U.S. House Votes to Cancel Emergency Homeowner Loan Program for Unemployed

"The $1 billion emergency loan program, which provides interest-free money to help borrowers keep their houses, was funded by a Democrat-led Congress before Republicans took control of the House. Because it is still in the design phase, no money has been spent on it". "“These are working people who had jobs, fell on hard times,” M. Watt (Dem) said. “All we’re saying is give them a break for 12 months and an opportunity to go back into the marketplace and find a job.” What now for the floundering UK programme?

Posted by alan @ 08:55 AM (1330 views)
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