New York (CNNMoney.com) - The Obama administration is making $3 billion in additional funds available to help troubled homeowners avoid foreclosure.
One part of the plan, announced Wednesday, includes a new $1 billion program that will offer loans to unemployed borrowers at risk of losing their homes. The loans, which will be dispersed through nonprofit and housing agencies, will carry 0% interest and be good for a maximum of $50,000 for up to two years.
The government's department of Housing and Urban Development said it will announce details about the program, coined the Emergency Homeowner Loan Program, in the coming weeks.
From CNN Politics
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Support the irresponsible people, spread the wealth. My goodness, these guys who get help will continue to support this type of government until the country is totally broke!
An administration where no one had a "real job" in their life is very dangerous in its misconception of what is needed and what is not; even running the wrestling federation is more honorable than what these guys did all their life (pure politics)!!
So again, the people who overspent, didn't save, get bailed out by this terrible president. Is OBAMA trying to bankupt us?
No wonder no company will hire...who would spend anything under this fraud.
This will give an unemployed job seeker the comfident he need to get that job.This is a blessing not only to the unemployed but the families next door to keep there neighborhood intack.
This is great, more debt for Americans to pay others bills. Worst administration ever.
Housing market was part of this recession they need help