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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (282926)	10/12/2010 11:52:35 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

Yep....the #1 lesson taught to the banksters by the government in 2008 was "Extortion=Ginormous bonuses". Lesson learned, more to follow.

To: Smiling Bob who wrote (282926)	10/13/2010 12:06:29 AM
From: Broken_Clock	Read Replies (2) \| Respond to of 306849

Hopium pipes spins bent's way -g- NeighborWorks America: Working Together for Strong Communities > HUD announced today a new $1 billion zero-interest mortgage loan program to help struggling homeowners who are at risk of foreclosure. These loans will be a maximum of $50,000, based on eligibility. This program will be targeted to the 32 states, plus Puerto Rico, that did not receive hardest hit funds under the Treasury program. Urban Edge Community Development Corp., a NeighborWorks member in Roxbury, Mass., hosted an announcement of the program by HUD Secretary Shaun Donovan. Read More. HUD delegated NeighborWorks America, the administrator of the National Foreclosure Mitigation Counseling (NFMC) program, as administrator of this new program in cooperation with a to-be determined fiscal agent. Homeowners will be able to submit applications through qualifying nonprofits beginning December 2010. Nonprofits participating in the program will receive payment to cover the administrative costs of performing intake and housing counseling services. NeighborWorks America plans to provide counselor training on the new program in order to ensure that it operates as efficiently as possible and that as many distressed homeowners as possible receive the assistance for which they qualify. More information will be forthcoming as it becomes available. It is an interest free loan for 5 years. Providing the homeowner makes the mortgage payment for 5 years on time, the loan is reduced by 20% each year and is gone by the end of the 5th year. These are funds to help make mortgage payments, pay arrearage, etc for a 24 month period.