Help For Homeowners At Risk Of Foreclosure

Have you bought more home than you can afford? Are you at risk of foreclosure? Well, Uncle Sam may be willing to bail you out of your bad decisions, thus encouraging more people to make more such bad decisions.

The more you subsidize bad decision-making, the more of it you will get.

I’m not a fan of these bailouts.

The New York Times reports: Homeowners at risk of foreclosure in 32 states can get emergency financial aid from the federal government, but they have to act fast. Deadlines are tight, and homeowners are already flooding the program with inquiries.

Within days of the program’s announcement last week, roughly 600 people had contacted CredAbility, a credit counseling agency in Atlanta, to ask for details, a spokesman says. CredAbility is one of 22 agencies chosen to administer the program by the federal government and NeighborWorks America, a nonprofit housing organization.

As part of the Dodd-Frank Act, Congress set aside $1 billion to help struggling homeowners.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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