Community Development Block Grants: Legislative Proposals to Assist Communities Affected by Home Foreclosures

Description:

In response to the rising number of home mortgage foreclosures, several bills have been introduced during the 110th Congress that would provide additional federal assistance to state and local governments with high concentrations of foreclosed homes, subprime mortgage loans, and delinquent home mortgages. At least one of these proposals, H.R. 3221, as passed by the Senate, includes provisions that would use the framework of the Community Development Block Grant (CDBG) program to channel an additional
$4 billion in assistance to state and local governments. This provision faces an uncertain future; objections to it have been raised by the Bush Administration and others, contending that the assistance will result in the rescue of lenders and speculators.

Creator(s):
Creation Date: July 15, 2008
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
Usage:
Total Uses: 78
Past 30 days: 4
Yesterday: 0
Creator (Author):
Creator (Author):
Creator (Author):
Publisher Info:
Place of Publication: Washington, D.C.
Date(s):
  • Creation: July 15, 2008
  • : August 27, 2008
Description:

In response to the rising number of home mortgage foreclosures, several bills have been introduced during the 110th Congress that would provide additional federal assistance to state and local governments with high concentrations of foreclosed homes, subprime mortgage loans, and delinquent home mortgages. At least one of these proposals, H.R. 3221, as passed by the Senate, includes provisions that would use the framework of the Community Development Block Grant (CDBG) program to channel an additional
$4 billion in assistance to state and local governments. This provision faces an uncertain future; objections to it have been raised by the Bush Administration and others, contending that the assistance will result in the rescue of lenders and speculators.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text