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Federal Homes Affordable Programs in NY Gets Funding
Congresswoman Nita Lowey has announced funding to support federal homes affordable programs in several counties in New York. A government agency will also provide grants for housing counseling services. " Several...Florida County Ahead in Buying Bank and Foreclosed Homes HUD
A county in Florida has outpaced other local governments in purchasing bank and foreclosed homes HUD. It also bested other areas in providing down payment and closing cost assistance. " The county government of Orange has outpaced other local governments in Florida in buying...Obama Administration Plans to Use Bailout Funds to Stop Forecl...
The Obama administration is serious in putting a halt to the foreclosure crisis. It plans on allotting $50-100 billion in funds to implement measures that will address the present housing situation. However, what...Banking Committee Chair Dodd Considers Bill to Help Homeowners...
The Senate Banking Committee, chaired by Christopher Dodd, is preparing a financial regulatory reform legislation to be released by April 2009, the deadline requested by President Barack Obama. " Already, Dodd plans to schedule hearings for several months where he expects to...
Treasury Nominee Geithner to Oversee Bailout Program Including...
The Senate is scheduled to take on the economic stimulus program which includes the foreclosure prevention and the confirmation of Timothy Geithner as secretary of the Department of Treasury. " Geithner, who is... Obama to Prioritize Foreclosure Prevention
Newly-installed U.S. President Barack Obama has outlined economic challenges that he and his administration will prioritize in his inaugural address. He also presented several remedies to these challenges that he...Foreclosure as One of Obama’s Top Priorities
Preventing foreclosure may be one of President-elect Barack Obama’s top domestic priorities, but he also has other housing-related concerns on his agenda too. Alleviating homeowner’s taxes and acceding to the...Obama Team Promises to Use Part Of Bailout Fund For Reducing F...
There has been much anticipation as to whether the second half of the $700 billion bailout fund would be released or not. The Obama administration is looking forward to its first legislative triumph if ever the...$350-Billion Foreclosure Fund: Obama’s First Test in Senate
Barack Obama, who is just a few days away from being inaugurated as the 44th and the first African-American U.S. president, is facing his first big test in the Senate. Democratic and Republican senators have been...Congress Gears Up Two Foreclosure Prevention Bills
Congress has been readying two foreclosure prevention bills to be presented to Barack Obama during his first working days as president in January. " One of the bills would allocate at least $40 billion from the second half of the $370 billion Troubled Asset Relief Program...U.S. Foreclosures Near the 1 Million Mark in 2008
A website foreclosure-tracking service reports that the country reached almost 1 million foreclosures in 2008. The figures show a big increase to 63.5 percent. " There were also 2.1 million foreclosure-related filings the previous year. The statistics include default notices...Democrats want $100 B to go to Foreclosure Aid
Just minutes after President Bush said at a news conference that President-elect Barack Obama just had to “ask” if he needed the remaining $350 Billion bailout funds allocated for foreclosure prevention, Obama...Lawmakers Reluctant to Release $350 Billion Foreclosure Bailout
Senate Banking Committee Chairman Christopher Dodd recently said that lawmakers were demanding to see more concrete action from government before it approves the release of the remaining $350 billion bailout funds...Declining Mortgage Rates Helps Foreclosure Prevention
The mortgage interest rates provided by Freddie Mac are presently at their lowest in years. This trend has been a good opportunity for homeowners who are facing foreclosure to take advantage of loan refinancing options. " From 6.06 percent last year, the average for 30-year...Governor Corzine Urges Foreclosure Solution
New Jersey Governor Jon Corzine has called on the U.S. federal government to use a large portion of the $700 billion Troubled Assets Relief Program (TARP) approved by Congress in October 2008 to rescue foreclosed properties and prevent further foreclosures. " According to...
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