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Obama program calls for $15bln for foreclosure rehab

Posted on 13 September 2011

President Barack Obama’s prime-time address on jobs didn’t focus much on housing, to the concern of some economists. Most of the housing-related attention focused on his call for more refinancing.
But the president’s job-creation bill actually includes some aid for housing: It would create a $15 billion fund to get construction workers to rehab vacant and foreclosed homes and businesses. Construction hiring has been weak, of course, because competition from foreclosures has held new home building at abysmally low levels……………………………………….Full Article: Source


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