Monday, February 23, 2009

Forclosure-related Articles

Two articles I found of interest relating to the stimulus package, in terms of helping homeowners.

Few in Bay Area qualify in housing rescue plan - Supposedly, more than 90% of San Francisco Bay Area do not qualify for low-cost refinancing of home mortgages. In order to qualify, homeowners have to have taken a loan less than $415,000. The Bay Area has ridiculous home prices anyway.

Bailout should also help renters- A SF Chronicle opinion article notes that the stimulus plan should help the renters, which are mostly poor and vulnerable to losing their homes due to speculating landowners. 20% of homes facing forclosure are where renters live. However, only about 2% of the $75 billion helping homes from forclosure will be focused on relocating renters. That's not enough! 

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