Wednesday, September 8, 2010

Robinhood: STATES in Tights? Federal $1 billion bailout scares me



WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures. The sweeping bank reform bill, the Dodd-Frank Act, allocated the funds for the programs. "These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods," said HUD Secretary Shaun Donovan. States can use the funds to acquire land and property; demolish or rehabilitate abandoned properties. 

NOTE:   Conflict of interest is showing, where is the help to homeowners?  Are they helping homeowners Or increasing land holdings for the cities and states?  Let see with 1 million you can buy up a lot of property and increase the net worth of the city or state. #566365

Do states make laws that affect the homeowners ability to win or lose their foreclosure fight in court? With states benefiting I call these grants a  conflict of interest! 

Many Taxpayers have been denied help that ONLY extends the loan - now THEIR tax dollars are being used to help fund recovery for the aftermath of the foreclosure frenzy. Is there any end in sight? Where is help for the drowning underwater Americans? 

alll images creative commons, public domain or

No comments: