Log in  |  Register   3/20/2010

Frank floats loan plan for unemployed homeowners

By Associated Press
Monday, November 16, 2009 -
EmailE-mail   PrintablePrint   Comments(14) Comments   LargerSmallerText size  Bookmark and Share Share  

FALL RIVER — Rep. Barney Frank said today he is pushing a proposal to use some of the interest the government collects from the financial industry bailout to give loans to unemployed homeowners struggling to pay the mortgage.

The lack of aid to jobless homeowners has been identified as a big weakness in the Obama administration’s plan to tackle the mortgage crisis. A report by a congressional oversight panel said last month that the $50 billion program "was not designed to address foreclosures caused by unemployment," which are now the main cause of default.

 
The article you requested has been archived
 
All coverage within BostonHerald.com from the last 7 days remains free of charge. Articles do not always include original photos, charts or graphics.
» Click for access to article within the archive
© Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Advertisement
Housing and Urban Development...
Photo by AP
Housing and Urban Development Secretary Shaun Donovan, left, walks through a neighborhood with Rep. Barney Frank, D-Mass., right, and others before a news conference today.
Advertisement



Contact us  |   Print advertising  |   Online advertising  |   Herald history  |   News tips  |   Electronic edition  |   Browser upgrade  |   Home delivery  |   Herald wireless

$ave on Boston Herald Home Delivery

Jobs with Herald Media

For back copy information and more information on other collectible copies please call 617-426-3000 Ext. 7714.  Click here for Celtics, Patriots and Red Sox back copies

N.I.E. Smart Edition Mass Literacy Foundation