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Foreclosure

Nevada To Get Foreclosure Help Funds

34K Jobs Expected To Be Created

POSTED: 6:10 pm PDT July 1, 2009
UPDATED: 6:20 pm PDT July 1, 2009

Nevada legislators are getting help from the federal government to try to rehabilitate local areas affected by the foreclosure crisis.

On Wednesday, Nevada Sen. Harry Reid, state Rep. Dina Titus and HUD secretary Shaun Donovan toured a Valley neighborhood that has been hit hard and discussed plans to help.

“Through President Obama's making home affordable plan, we will now be allowing more struggling Americans to qualify for refinancing under the home affordable refinance program. I'm also pleased to announce today that we will be bringing in HUD reinforcements on the ground here in Nevada," Donovan said.

Nevada will get $870 million in foreclosure help funds, and 34,000 jobs connected to this project will also be created or preserved statewide.

Watch FOX5's Kevin Bollinger at 10 p.m. He will explain how you can avoid foreclosure by refinancing.


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