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Friday, April 9, 2010

State government assured growth to stop foreclosure

Stop foreclosure, Avoid foreclosure

The US government struggles to deal foreclosure crisis, but state government assured growth to stop foreclosure. The California Senate Banking, Finance and Insurance Committee announced a plan to give an option for more house owners to stop foreclosure. The San Jose City Council granted a joint venture with Housing Trust of Santa Clara County to accept $25 million to help neighborhoods move behind foreclosed homes.

 The finance crisis is public policies challenge not private financial responsibility, because foreclosed homes dramatically affect neighborhoods. San Jose neighborhoods are mostly distressed by this series effect at a moment when the city fund is dwindling. So the $25 million funding through the American Recovery and Reinvestment Act helped house owners to stop foreclosure.

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