Federal government adds $3 billion to foreclosure prevention funds

By
Real Estate Agent with HomeSmart Realty West CalBRE #01458572

Did you know? Contact Jim Frimmer for all your San Diego real estate needs


Federal government adds $3 billion to foreclosure prevention funds 

Call Jim Frimmer for all your San Diego County real estate needsThe federal government has added $2 billion to the Hardest Hit Fund, managed by the Treasury Department, and another $1 billion to a new program under the Department of Housing and Urban Development that was authorized by the new financial overhaul law.

The Hardest Hit Fund, initiated in February 2010 and expanded in March, helps finance agencies in the seventeen states that have higher unemployment rates than the national average. It creates local aid programs, and California will receive the largest share, $476 million.

The program from the Department of Housing and Urban Development will finance interest-free, two-year bridge loans of up to $50,000 to help eligible borrowers pay their mortgage, including principal, interest, insurance, and taxes.

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Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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Rainmaker
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Carra Riley
Realty ONE Group Premier Colorado - Denver, CO

Jim ~ Wow, this is some great info. Thanks for bringing it to our attention!

Aug 17, 2010 11:03 PM #1
Anonymous
Anonymous

I wonder where the federal government is going to get that money. Oh, that's right! Governments have the privilege of printing money!

Aug 18, 2010 06:54 AM #2
Rainmaker
1,109,053
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

Hey, everyone!

Thanks for stopping by and commenting.

I'm trying to follow up on these older posts like this one to see if anyone had any questions or if I really need to respond to anyone's comments.

I will read all the comments and respond to any that need a response, but since this post is rather old, rather than making comments here in my post to each and every one of you, I'll just let everyone know that I have read all the comments and if there are any questions, I'll answer those in comments below this one. Otherwise I'll simply post this comment and then head over to your blogs soon to visit and do some reading and commenting. I hope you'll have a nice welcome mat out for me!

Don't forget to let your cat come out to play with all the other ActiveRain kitties. Your cat-friendly dogs can come, too!

If you need a great cat book, get yourself a copy of Peg Silloway's The Cat Lover's Book of Days.

Hope all is well with everyone.

Aug 28, 2010 07:00 PM #3
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Rainmaker
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Jim Frimmer

Realtor & CDPE, Mission Valley specialist
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