New Efforts To Aid Homeowners Won’t Cost The Taxpayers Another Dime

Further efforts to abate the foreclosure crisis won’t cost the taxpayer any additional money is the word from the Obama Administration. This includes the new HFA Hardest Hit allocations and revisions to HAMP to reward lenders who write down principle balances.

This is because all of the money that is being used is coming out of  TARP (Troubled Asset Relief Program) funds. $50 billion, to be exact, and the government has come nowhere close to that allocation.

While the Wall Street Journal calls this $50 billion a “slush fund,” it is a good thing that further outlays from that fund need no congressional approval. If they did, it would be likely that programs like HAMP, designed to help struggling homeowners would get bogged down in congressional politics.

It is also a good thing for taxpayers already laboring under massive budget deficits run up in the last decade.

You can leave a response, or trackback from your own site.

2 Responses to “New Efforts To Aid Homeowners Won’t Cost The Taxpayers Another Dime”

  1. Abigail says:

    Thank you for reminding people that all the deficits haven’t sprung up just since Obama was sworn in!

    But I agree: No one would ever get helped if Congress had to approve how the funds were used.

  2. TREVOR says:

    CheapTabletsOnline.Com. Canadian Health&Care.Best quality drugs.No prescription online pharmacy.Special Internet Prices. Online Pharmacy. Order pills online

    Buy:Cozaar.Lipitor.Acomplia.Ventolin.Nymphomax.Seroquel.Female Pink Viagra.Female Cialis.Aricept.Zocor.Amoxicillin.Prozac.Wellbutrin SR.SleepWell.Benicar.Zetia.Advair.Lasix.Buspar.Lipothin….

Leave a Reply

You must be logged in to post a comment.

Buy VerizonCell Phones and Save. | Thanks to Bank Rates & Reviews, CD Rates and UK Loan
Easy AdSense by Unreal