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| -Short Attention Span Theater- |
| HUD to give away $1 Billion to |
| 2011-07-05 |
| Sandra Allwine has been pleading with her bank for more than two years to modify the mortgage on her Arlington County home. Despite exhausting all her savings and having her daughter move in to help with her $3,000 mortgage payment, Allwine, 65 and unable to find work, is struggling to save her home from foreclosure...The program was supposed to start last year, but implementation delays mean that the Department of Housing and Urban Development must spend all its $1 billion by the end of the federal government’s fiscal year, Sept. 30. Barney Frank said, “If you took out a reasonable mortgage in the first place and the only reason you can’t pay it is because you became unemployed, there’s reason to help.” Frank proposed taxing large financial firms to raise money for this program. In an entirely unexpected and irrelevant development, worries continue about whether or not the US will default on the public debt if the debt ceiling and taxes are not raised. |
| Posted by:Anguper Hupomosing9418 |