A bill to prevent foreclosure that passed the Senate yesterday included money for Vermonters.
Senators Pat Leahy and Bernie Sanders included a provision in the bill that would bring $20 million in emergency relief to Vermont. Leahy and Sanders added an amendment to the $3.92 billion Foreclosure Prevention act to ensure that small states benefited along with larger states. That bill passed the Senate yesterday in a vote of 84 to 12.
Under the bill Vermont stands to receive nearly $20 million in Community Block Grant funds. The money can be used to help prevent foreclosure and to redevelop abandoned or foreclosed homes.
In a statement Leahy says that while Vermont hasn’t been hit with foreclosures as hard as some other states, the sluggish economy and rising cost of housing is making it harder for families to find affordable housing.
Sanders says he hopes the funding will help cities and town provide immediate assistance to those people who are struggling.