Number: RS22919
Title: Community Development Block Grants: Legislative Proposals to Assist Communities Affected by Home Foreclosures
Authors: Eugene Boyd and Oscar R. Gonzales, Government and Finance Division 
Abstract: In response to the rising number of home mortgage foreclosures Congress passed the Housing and Economic Recovery Act of 2008, P.L. 110-289, formerly H.R. 3221 (the Act). Title III - Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes - of the Act, which was signed by the President on July 30, 2008, will provide additional federal financial assistance to state and local governments with high concentrations of foreclosed homes, subprime mortgage loans, and delinquent home mortgages.
Pages: 6
Date: August 5, 2008