Schumer wants aid for subprime borrowers

CNN reports:

Community groups that help subprime borrowers try to save their homes from foreclosure would receive $300 million in aid under legislation introduced by Democratic Senator Charles Schumer Thursday.

The infusion of federal money would help consumer groups reach out to troubled borrowers and, in some cases, provide new financing directly.


The groups that would benefit from the money are in direct contact with delinquent homeowners and guide them through the complicated steps they can take to save their homes, said Sen. Schumer (D-N.Y.), chairman of a Senate subcommittee on housing and sponsor of the legislation.

"They know how to do it. Their role is critical," he said of the consumer groups that aim to help troubled borrowers.

What "they know how to do" is be rent-seeking parasites off the taxpayers.Maybe it's time to separate the government from the housing sector,since Big Brother has artificially raised prices.