Help for Homeowners

Home prices plummeted in May, according to a survey of 20 major metropolitan areas released Tuesday. There was a silver lining in New England. Prices in the Boston region went up 1.05 percent from April to May. The related home mortgage foreclosure crisis hit much of the rest of the nation harder than Vermont. Still, the 443 new foreclosures in Vermont in the past three months was a 65 percent increase over the same period last year, according to Vermont Public Radio. Sweeping housing legislatio

Home prices plummeted in May, according to a survey of 20 major metropolitan areas released Tuesday. There was a silver lining in New England. Prices in the Boston region went up 1.05 percent from April to May. The related home mortgage foreclosure crisis hit much of the rest of the nation harder than Vermont. Still, the 443 new foreclosures in Vermont in the past three months was a 65 percent increase over the same period last year, according to Vermont Public Radio. Sweeping housing legislation that the Senate passed last weekend and sent to the White House would help communities cope with the negative effects of foreclosures and delinquencies. Under the legislation, Vermont is in line for almost $20 million of $3.92 billion in supplemental Community Development Block Grants. "Vermont cities and towns will be able to provide immediate assistance to the struggling middle class trying to hold onto their homes and revitalize neighborhoods in communities hit hard by foreclosures," Sanders said.

For more details about the housing rescue package that the Senate approved, click here.