Individual mortgage bailouts on the way?

Oh hai

First Home Club Matched Savings Program

HSBC Mortgage Corporation (USA) is pleased to introduce the First Home Club matched savings program, available for prospective home buyers in New Jersey and New York State. Financed by the Federal Home Loan Bank of New York, this program allows qualified first-time home buyers to earn $4 in grant monies for every $1 saved over a 10 to 24 month period. As a result, potential home owners can obtain a maximum grant of $7,500 for opening an account at HSBC Bank USA, National Association and saving $1,875 through regular monthly installments. At the conclusion of the program, the applicant/depositor will have funds totaling as much as $9,375 to go towards the down payment and closing costs for the purchase of a home.

Although i did it through M&T this is the same thing.

Link
http://www.us.hsbc.com/1/2/3/personal/home-loans/mortgage/mortgage-programs/first-time/first-home