Buyer’s remorse: Loans impacting grant money for Sandy victims
NEW YORK (AP) — When Superstorm Sandy left Denise Erickson’s home with a collapsed foundation, a loan from the Small Business Administration looked like the best deal in town. She got more than $150,000 from the SBA to help fix her family’s Bellmore home, but the loan has left her with a $651 monthly payment and…More from my site
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The idea that people with great credit were told that they had to take loans, was abhorrent to me; while people with bad credit would be able to get grants.
Sure, it allowed us to get back into our home faster; but at a big financial cost.
That house buying program was also nuts with people getting down payment money to buy houses that didn’t even have to be in the flood damaged towns, just the county.