U.S. federal government allocating 600 million U.S. dollars to alleviating the housing foreclosure problem
WASHINGTON, Aug. 4 (Xinhua Du Jing) 4, the U.S. Treasury Department announced that the federal government agreed to provide a total of 5 states 600 million U.S. dollars assistance to help local homeowners avoid the loss of housing mortgage foreclosure (foreclosure).
Ministry of Finance said that the five states are North Carolina, Ohio, Oregon, Rhode Island and South Carolina. Approximately 50,000 of these states face repayment difficulties due to unemployment homebuyers will receive federal aid.
75 billion U.S. dollars as part of the housing stabilization fund, created in February this year Obama has the worst housing recession for the region's "innovation fund housing finance institutions." While direct aid payments paid to homeowners who are unemployed, Bangzhutamen Changhai mortgage month Gong, Tong Shi also be used for loans to companies to Diya Tigong cash Ji Li, Cu Shiqi Xiugaijiekuan terms of the contract, Jiang Di buyers of mortgage month for part of the loans or relief.
this year in June, the federal government agreed to the first five states to provide financial aid totaling 1.5 billion U.S. dollars, including Arizona, California, Florida, Michigan and Nevada. These states are considered the most severe housing recession areas, the average decline in house prices during the crisis more than 20%.
financial crisis began in the U.S. housing market bubble burst. In the U.S. government rescue with heavy blows to the economy, the recipients of the financial, automotive and other industries have the better, but it is only to stabilize the real estate market, and starred low. International Monetary Fund has warned that the U.S. housing market there is the risk of second bottom.
high foreclosure rate in the U.S. housing market, the number one problem. According to statistics, the first 5 months of this year, the U.S. new housing 1.6 million foreclosure case, the whole year is likely to exceed the 2009 record of 2.8 million. A large number of foreclosed homes market, on a significant downward pressure on prices. This year in April, sales of foreclosed homes accounted for one third of the total sales of existing homes.
