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Servicing / The Ticker

States allocate foreclosure money to cover demolitions

hazard light

States are now allowed to use money from the $7.6 billion foreclosure prevention program to fund demolition activity. Per the Marketplace:

Here we were assisting homeowners to stay in their homes, but then, many of these communities had so many blighted properties that homeowners would throw their arms up and say, ‘I’m never gonna get value out of this house, why am I doing this?’” says Mary Townley, director of homeownership at the Michigan State Housing Development Authority.

Source: Marketplace
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