The US Department of Housing and Urban Development and the nonprofit NeighborWorks America said the program will provide hundreds of local borrowers with interest-free loans of up to $50,000 over a two-year period. In some cases, the money will not have to be paid back.
I understand the personal motivation to stave the inevitable off until after next fall but this seems like the definition of insanity - housing prices are going to continue falling, regardless of how much money they borrow and throw at them.
