February 19, 2010
Las Vegas, NV—Nevada Senator Harry Reid and President Barack Obama are announcing a new effort to stem foreclosure in the Silver State. This program will provide further incentives for banks to renegotiate mortgages and rewrite second liens and will make loans available to unemployed homeowners.
"I have been working with President Obama and his administration on a solution to address Nevada's housing crisis for a while now and I am so glad we came up with one that will help people who are struggling,” said Reid. “Our state is going to receive at least $100 million; that will go a long way toward helping to keep people in their homes and assisting those who are underwater. I thank President Obama for working with me on this important Nevada issue."