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Illinois to receive a federal help of another $279 million

Shared by Sara on Wed Oct 06, 2010 3:24 am
Hello Everyone, In order to help the underwater homeowners in Illinois to prevent foreclosure, the Obama Administration has approved another $279 million as federal help. The Illinois Housing Development Authority is planning to use the money for foreclosure prevention. Source: http://www.businessweek.com/ap/financialnews/D9IJ083O0.htm

Community Members Opinion

Niicss
Niicss

Joined: 03 Oct 2005

Posts: 4834
Location: New Jersey

508.88 Dollars($)

Posted: Wed Oct 06, 2010 3:41 am Post subject:

Hey Sara... Thanks for sharing the news! Illinois had earlier received a Federal help of $166 million in August for similar reasons. This program is also known as the Hardest Hit Fund & lt's Homeowner Emergency Loan Program in Illinois. The main aim of the program is to help low and moderate-income families with temporary assistance so that they can make mortgage payments. _________________ Good is the Enemy of Great.

dipaligopale

Joined: 25 May 2010

Posts: 790

22.70 Dollars($)

Posted: Wed Oct 06, 2010 4:52 am Post subject: Illionis help

Thanks Sara for sharing the good news with all the fellow members & visitors or forum. I really appreciate the effort of the federal government but while implementing the plan they should take utmost care because 'people should not get accustomed to get help from government all the times'.Because in long run it is not good for the economy to print extra cash (FIAT cash).If government continues to put cash in terms of help for several times it is really not good for economy and value of dollar may decrease in comparison to other currencies making it more difficult for the overall development of American empire. DIPA _________________ 1.The best of intentions must still have directions !--Unknown author 2.When I hear somebody sigh, "Life is hard," I am always tempted to ask, "Compared to what?" - Sydney J. Harris


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