Federal government adds $3 billion to foreclosure prevention funds

Federal government adds $3 billion to foreclosure prevention funds 

The 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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If you're looking for a great real estate agent in San Diego, well,
let me Google one for you.

I'm available 24/7, so feel free to contact me by phone or email.

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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