Yesterday the Obama Administration announced the next steps in their Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets. 1.5 billion will be added in funding to help housing finance agencies in states where the house prices have fallen more than 20%.
An article described the current situation:
Today the Administration released detailed guidance for eligible HFAs to submit program proposals for funding. The HFA Hardest-Hit Fund is designed to allow the maximum possible flexibility to eligible HFAs in designing programs that are tailored to the needs of their state. Today’s guidance provides instruction to HFAs to ensure that program proposals meet basic guidelines and comply with the purposes of EESA. All programs must protect home values, preserve homeownership, promote jobs and economic growth, and provide accountability to the public.
This economic aid in the housing market is much needed. Without a stable housing market, it is not possible to have a stable economy. A key to the re-stabilization of our economy is first securing the housing market and making it possible for people to buy houses again without worrying about decreasing home values.
Yesterday the Obama Administration announced the next steps in their Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets. 1.5 billion will be added in funding to help housing finance agencies in states where the house prices have fallen more than 20%. An article described the current situation:
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