President Obama announces $1.5. Billion program to prevent foreclosures
On Friday, President Obama announced a new $1.5 Billion program to help troubled homeowners in California, Arizona, Nevada, Florida and Michigan. These five states have been hit the hardest by the housing crisis. Funded by money from the TARP bank bailout, it will support state housing agencies to prevent foreclosures, assist with loan modifications and affordable housing opportunities. This initiative is the latest program from the federal Home Affordable Modification Program which was enacted to prevent foreclosures.
http://money.cnn.com/2010/02/19/real_estate/housing_help_unemployed/
Posted 4th March 2010 by Sally Forster Jones
Labels: foreclosures HAMP loan modifications obama tarp
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