More Money for Struggling Homeowners
Wednesday, June 29, 2011
A new federal program is offering aid with a sweet kicker: It doesn't need to be repaid.
For the roughly four million homeowners who have fallen behind on their mortgage payments, the federal government is offering yet another remedy: free money to catch up on their loans.
The effort, called the Emergency Homeowners Loan Program, is the latest in the federal government's efforts to slow down the flood of foreclosures a necessary step to a meaningful recovery in the housing market, says a Department of Housing and Urban Development official. For people who have lost their jobs, the $1 billion program offers loans of up to $50,000 that don't actually need to be repaid, if applicants meet certain requirements.
Asked by Anonymous at 2:20 PM on Jun. 30, 2011 in Politics & Current Events
Answer by Musicmom80 at 2:21 PM on Jun. 30, 2011
Answer by SuperrMommyy at 2:22 PM on Jun. 30, 2011
Answer by amberpaiz at 2:22 PM on Jun. 30, 2011
Just more throwing good money after bad. It's what our government does best. It seems they are masochists and just want to prolong the pain.
Answer by QuinnMae at 2:22 PM on Jun. 30, 2011
Answer by AF4life at 2:25 PM on Jun. 30, 2011
Answer by attap5 at 2:27 PM on Jun. 30, 2011
Answer by gammie at 2:27 PM on Jun. 30, 2011
Answer by Sisteract at 2:29 PM on Jun. 30, 2011
Next question overall
(Money & Work)
Does anyone know if you can get cashback at Cumby's with a debit card. i...