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Relief Slow To Homeowners Facing Foreclosure

By Garland McLaurin on Nov 24, 2008

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Communities crushed by the foreclosure crisis are dealing with hundreds, and sometimes thousands, of abandoned and deteriorating houses. As local governments scramble to grapple with the problem, Congress, who bailed out Wall Street to the tune of $700 billion, has provided little relief. Four billion dollars has been set aside by Congress to help communities buy up and repair foreclosed houses, but will it be enough?

Keywords: Economy, Government, department of housing and urban development, Elijah Johnson, foreclosure crisis, homeowner rescue bill, housing bailout, HUD, Keith M. Elliott Jr., Kurt Seastead, McMansion, National Low Income Housing Coalition, Prince William County, Virginia

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