WASHINGTON (AP) -- Amid new signs that the housing slump is worsening, key Senate Democrats said Wednesday that hundreds of millions of dollars of new federal aid may be needed to assist homeowners at risk of foreclosure.
The call for federal involvement from New York Democrat Charles Schumer, chairman of the Joint Economic Committee, came on the same day the National Association of Realtors forecast that the median price for existing homes will decline for the first time since 1968 as a sales slump worsens.
"We will be proposing significant amounts of dollars," Schumer told reporters after being asked if a large federal bailout may be needed.
1. Didn't these FB's ("Failed" Borrowers) already get their tax break for owning over renting?
2. Will these "significant amounts of dollars" be paid for by those who have been saving and waiting patiently to be able to afford a home without exotic lending?
3. Can I get bailed out for my pets.com fiasco?