From the November issue:
Over 1,000 Connecticut residents have secured interest-free loans, thanks to a foreclosure prevention program created by last year’s financial reforms, according to the Hartford Courant. The Federal Homeowners’ Loan Program provided 1,070 loans totaling roughly $55 million to Connecticut residents, the Courant said. Under the program, up to $50,000 worth of aid was available to borrowers who had experienced a 15 percent reduction in income due to unemployment, underemployment or medical expenses. The funds were part of the $1 billion given to the U.S. Department of Housing and Urban Development under the federal Dodd-Frank Wall Street Reform and Consumer Protection Act. Click here for more stories from around the tri-state area.
Compiled by Russell Steinberg