Homeowners – New Treasury Department $1 Billion Zero-Interest Rate Loans
Government homeowner loans
The Treasury Department says it will send $1 billion to a new program being run by the Department of Housing and Urban Development. It will provide homeowners with emergency zero-interest rate loans of up to $50,000 for up to two years.
Let’s hope a condition of these loans is that the homeowners are personally liable for the repayment. But, if just the home is the security for the loan, we’ll just see many more strategic defaults.
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