December 15, 2005

Federal Loans to Homeowners Along Gulf Lag - New York Times

Federal Loans to Homeowners Along Gulf Lag - New York Times:

When should a loan become a grant? If the standards change and $Billions in grants are made, how will those grants be funded? A tough problem. I wonder if loans are denied because rebuilding in place merely exposes the property to similar devastation the next time a Cat4 hurricane roars through?

"The high rejection rate and the slow processing of applications are causing concern among government officials, academic experts and homeowners. Many say the problem undermines government pledges of aid, embodied by President Bush's promise in September to 'do what it takes' to help citizens rebuild"

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