More Help For Struggling Homeowners

[bri]

Just an FYI



Not sure if this program will help any of you out or not. I am no financial genius and did not read the whole article, but one of the captions said the money didn't have to be repaid. If it doesn't have to be repaid, I don't know why it is labeled a loan and not a grant.





http://finance.yahoo.com/loans/arti...ruggling-homeowners-smartmoney?mod=loans-home

 

[sth]

Just an FYI



Not sure if this program will help any of you out or not. I am no financial genius and did not read the whole article, but one of the captions said the money didn't have to be repaid. If it doesn't have to be repaid, I don't know why it is labeled a loan and not a grant.





http://finance.yahoo.com/loans/arti...ruggling-homeowners-smartmoney?mod=loans-home

This is actually not a bad idea. If the people take the loan and don't keep up on their payments then it is a loan that they have to pay back. But if after they get the money the do make payments the money is a grant. Of course it might just delay foreclosures but might as well take a shot.

 

[MassHavoc]

These loans should only be allowed to people who have home loans older than say.... 6 or 7 years? I don't remember when all the BS started.