Neil Sweren's Interesting Points

According to the AP Newswire Rep Barney Frank is pushing a proposal to use some of the financial bailout interest the government is collecting to give up to 2 Billion in emergency loans to unemployed homeowners. 

The program was originally developed in the 1970s and would help homeowners make mortgage payments for up to a year with the possibility of an extension for an additional year. 

This is clearly great news for the nations unemployed who may not have taken out exotic subprime loans or be under water but nonetheless struggle to hold on to their homes.

Filed under: Mortgage |