Home > Mortgages, NEWS > New Federal Help for Unemployed Homeowners

New Federal Help for Unemployed Homeowners

Initially this 1.5 Billion Dollar program is being targeted at homeowners in California, Arizona, Nevada, Florida and Michigan – which are the states that have been hit hardest by both unemployment and foreclosures.

The program initiated on 2/19 by President Obama is  designed to provide short-term loans for homeowners who have lost their jobs.

The exact logistics of this plan – how the money will flow – are still being worked out but this is primarily an effort to expand the somewhat limited success of the 2009 Home Affordable Modification Program which has been criticized for not accomplishing it’s goal of helping folks stay in their homes.

Below is a CNN article about this new initiative.  Click on Full Screen to read it.

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Rick Schwartz,   REALTOR

Homes for sale in Danbury, Bethel, Brookfield, Newtown, New Fairfield, New Milford, Ridgefield and Redding CT.

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