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Obama Pledges $1.5 Billion for Homeowners

By Anthony Barone

Real Estate Agent with Balistreri Real Estate SL3337434

February 22, 2010 11:34 AM

During a speech in Henderson, Nevada, President Obama today announced $1.5 billion in funding to help struglling homeowners in states hit hardest by decling home values and unemployment. The effort is expected to help state agencies in California, Nevada, Arizona, Florida and Michigan, according to reports. The money will come from the Troubled Asset Relief Fund (TARP).

Here are several accounts of the announcement:

· DS News: Obama Pledges $1.5B for Unemployed and Underwater Homeowners

· Real Estate Economy Watch: Obama Aids Big Bust States

· White House.gov: Helping the Hardest Hit Housing Markets

· USA Today: Obama unveils $1.5 billion plan for homeowners

· MarketWatch: Obama targeting homeowners with $1.5 billion in assistance

• BusinessWeek: Obama Announces $1.5 Billion in Aid for Homeowners

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Monique Combs

Royal Shell Real Estate - Bonita Springs, FL

Royal Shell Real Estate - Monique Combs

Anthony ~ I hope it works and as the government doesn't put too many stipulations.

Feb 22, 2010 11:38 AM

Eric J

Eric J - Dream Home Financing - Freehold, NJ

Dream Home Financing

Anthony, I think we can use some of that money in NJ. I spend my summers across the bay from you and our values over there took a serious hit.

Anthony Barone

Balistreri Real Estate - Boca Raton, FL

Realtor Associates

I think that there is not enough $$$ to go around and after every "soldier & Capo" takes thier cut there is usually not much left. Every other seller I speak with is loosing thier home and the buyers are boarderline at best. People should be buying in the 500K+range soon as those are the buyers/sellers who will forsee rising intrest rates/prices due to less gov.backed mortgages.

Feb 23, 2010 05:37 AM

Obama Pledges $1.5 Billion for Homeowners

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