A bill regarded as the most substantial housing legislation in decades has been signed by President Bush, giving hope for recovery from the foreclosure crisis that has gripped the Inland Empire.
While some say any help is welcome, it remains to be seen whether the measure aimed at helping 400,000 homeowners is too little, too late.
"It won't fix everything, but at least it's something," said Bill Carney, president of the Inland Empire Economic Partnership. "If this helps minimize the total number of foreclosures, then you begin to take some of that housing out of the market - which begins to support the real estate market."
Part of the bill involves giving $3.9billion in grants to blighted communities to fix up foreclosed properties...
Read the story Daily Bulletin | Posted August 11, 2008
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