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[SunTzu]

From KIRO, it's your money at work so have fun....




Gregoire Signs Bill Providing $1.5M For Home Counseling

POSTED: 11:47 am PST February 11, 2008
UPDATED: 5:16 pm PST February 11, 2008


OLYMPIA, Wash. -- Gov. Chris Gregoire has signed into law a bill providing $1.5 million for homeowner counseling.

The money will go to agencies that counsel people facing foreclosures, as the governor tries to curtail effects of the mortgage loan crisis hitting the nation and the state.

The governor's office expects the number of foreclosures to increase next year.

The bill signed Monday also will pay for a free number for people to call for help. The number, 1-877-894-HOME, will be operating in about two weeks.

ACORN.org

[redmondjp]

Oh, politicians (note: this is a non-partisan statement) make me sick!

Seriously, 1.5M? That's enough to help bail out, what, maybe a half-dozen underwater homeowners on the Eastside?

Nothing like political posturing to say "I care" with a useless solution that will do squat about the situation (which should be left alone anyways IMO).

[rose-colored-coolaid]

I don't see the big deal here. This is pocket change, thrown at what will turn into a major problem. But it's actually going to provide a valuable resource.

This is for counseling, which isn't bailing anyone out. At $1.5 mil, it's about a quarter for every person in the state. As much as I dislike the fact that some of these fools have driven up prices for the rest of us, I also think going through foreclosure is probably traumatic. So I don't mind throwing in a quarter to help a few of them get through their problem.

[jillayne]

I would have liked to have seen our governor hold the non-profit agencies accountable for some sort of results before just writing a blank check.

Last time I checked, the non-profits have already been offering all these services.

Q: How many homeowners have they successfully been able to help in the past?

Q: What is their ratio of dollars used per client?

Q: How much of the money will go toward more efforts in getting more money and how much will go toward actually helping homeowners?

Q: How will we hold them accountable for results when they come calling AGAIN in six months when the foreclosures around here really get going?

Shouldn't the banks and lenders be paying for some of these counseling services since they are partially at fault for putting consumers in homes they can't afford?