$1.5 billion for housing help in 5 states.
The Obama Admistration has pledged to help housing in states that are affected the most by the downturn. What states are going to be effected and what kind of help is around the corner?
President Obama announced February 19th, that the government will provide $1.5 Billion dollars from the Bank Bailout monies to help with the housing market in 5 states. These 5 states have had a 20% drop in housing prices alone.
The Treasury will provide funding to the agencies in California, Nevada, Arizona, Michigan, and Florida. The focus of the assistance is to provide loans that focus on unemployment, loan guarantees etc. Most of the monies are going to states that need it the most like Michigan and Nevada. Unemployment is up between 13%-14.6% in some areas of these states and housing has taken a tremendous hit.
Although the pledge is that help is on the way, there hasn't been a time frame given at this time for monies distributed to agencies. For more information on this government funding contact your lender, or your local government agency such as HUD.
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AJohnsonI was born in San Juan, Puerto Rico, Moved to the states when I was 8 by way of NYC. Attended Berkely Majoring in Fashion Marketing and Management. Moved to Ohio attended Cincinnati State and majored in Business Management. Moved on to Raleigh in 2008 Searching for a new life and fresh start. I've been working for CESI and its a great company to work for. I love to help people and since there are 1000's of families that need help, I'll put make myself availible to bring a positive solution to your hardships,with Education and providing alternatives to show you there is indeed light at the end of the tunnel.
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