Loan money sits unclaimed after northern Minn. flood

  • Article by: BRANDON STAHL , Star Tribune
  • Updated: January 14, 2013 - 12:33 PM

Homeowners and businesses hit by the June floods in northeastern Minnesota aren't eligible for grants, and they've been slow to apply for government loans.

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samiamJan. 12, 1311:21 PM

Another explanation is that people "up North" are generally self reliant, Help their neighbors, and live their lives without government interference.

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bigbadbeanJan. 13, 13 8:09 AM

No flood insurance? Too bad.

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woodyagJan. 13, 1310:11 AM

" 'We need to look deeply to what the resistance has been, and I don't have the answer to that,' he said." Really?? I can explain. "Loans" have to be paid back. All the homeowners in the US are now deeply familiar with how that works. Many of them have no income anymore- and know they could not repay this "help" on the terms offered. Duh. Oh, and, they're just a tad wary about government loans- half of them probably have kids who can't repay their student loans- also "help" - from the government - but now in the hands of collection agencies.

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furguson11Jan. 13, 1310:59 AM

This is more than a little like college aid in the form of loans, why do it if you don't have a realistic chance of paying it back.

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cavellJan. 13, 1312:41 PM

is this money like the 60B in federal "aid" that the hurricane sandy folks will pay back? if you have no insurance and house is destroyed, why not take out a loan and fix house and than walk away from loan? house will be fixed, federal govt will pay off loan and next buyer can get it in a foreclosure auction for pennies on the dollar.

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