Talk about going back to future....
House Financial Services Conference Committee bill passed in the wee hours of the morning apparently (CNN Money) has $1 billion in TARP funding to help unemployed borrowers. Funding would be use in conjunction with revised provisions of section 107 of the Emergency Housing Act of 1975 (12 U.S.C. 2706), [Pennsylvania HEMAP program is cited most often as model for this program].
Original House proposal had been for $3 Billion for this fund.
NOTE: It appears to me that Committee ALSO approved $1 billion for NSP, but I have yet to see that reflected in news stories.
More to follow I am sure as full House and Senate votes occur next week.
Originally created and posted on the Oregon Housing Blog.