Rep. Judy Biggert (R-Ill.) said these programs were put up in haste, executed poorly and have done little to restore stability.
"We need to break down barriers that have delayed the housing recovery, including expensive and ineffective government programs that have failed to help homeowners," Biggert said.
This is our tax dollars given away to Cities and Towns to "buy up the REO bank owned & foreclosed homes".
The intent is to make our communities look better, thinking this will increase Single Family home Sales and maintain communities. All of that makes great sense if the Banks were actually providing more loans to the Buyers. They are NOT!
I say, "PRESSURE THE BANKS to loosen up the $$$$$. They just had one of their most profitable years. Put the screw to em....now.
Larry, Blog author.
Read more at this link....
http://www.housingwire.com/2011/03/02/hud-defends-nsp-funds-effect-on-blight
