Dodd-Frank Wall Street Reform and Consumer Protection Act Provides Funding for Forclosures, Too

 

I was more than a little surprised to learn the Wall Street Reform Bill was also reaching out to help Main Street by providing funding for help with foreclosures. Towards the end of the 848 page bill, beginning on page 830, in Section H are details the intent and provisions of the funding to be used for foreclosure relief.

Abandoned homes from foreclosures are blight on many of our neighborhoods. So, I am definitely in favor of helping our communities. I guess with the twins Freddie and Fannie notwithstanding, I didn’t expect Wall Street Reform to include money for housing.

The Atlanta Journal and Constitution printed an article this week detailing the efforts of our local governments to move ahead with the monies from the Neighborhood Stabilization Program and to show the good that this and earlier funding initiatives have given Atlanta citizens. (link to story below)

http://www.ajc.com/news/atlantas-neighborhood-stabilization-program-589218.html

Jane Nowak is a Financial Planner with Kring Financial Management located in Atlanta, Ga. Jane’s practice focuses on Women’s Retirement Planning and Financial Planning for Women. Her articles have been published on line at NASDAQ, Financial Planning Association and Womenetics.com. Follow Jane on Twitter at: http://twitter.com/moneygal2020