Relief slow to homeowners facing foreclosure
source: http://therealnews.com/t/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=2848
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- Vierotchka
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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?
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1Eco_Media
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Deflation reduces prices. It also causes property values to go down. Any time anyone does damage to a property that property will demand improvement to regain its value.
Investors are interested in affordable property as that property might be rented or resold as it is improved. Not all people understand the demands of improvement however improvement of property is possible and can be done with or without federal assistance as prices come down.
- 3 years ago
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1Eco_Media
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