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D.C. Eyeing Stimulus Funds for Foreclosed and Abandoned Properties

Posted by Ruth Samuelson on May. 7, 2009, at 1:56 pm

Thus far, D.C. hasn’t been known for its foreclosure crisis. But according to this Washington Business Journal article, the city will be applying for a HUD stimulus grant to rehabilitate foreclosed and abandoned properties here. Money could also be used for the Home Purchase Assistance Program, which had to reduce assistance levels last fall.

On May 4, the Department of Housing and Urban Development (HUD) released information about the second phase of its Neighborhood Stabilization Program.

Tomorrow, they’ll also release a map showing which areas are most in need of the funds. The minimum grant would be for $5 million. According to the WBJ article, “Foreclosure starts — notices of coming foreclosure sales — tallied 911 for single-family homes in D.C. during the first quarter, far outpacing the 597 that were filed for all of 2008. That means a spike in foreclosures could be on the way. The number also may reflect a backlog caused by a national foreclosure moratorium that ended April 1.”

Image by Daquella Manera, Flickr Creative Commons

Tags: Department of Housing and Community Development, DHCD, foreclosure crisis

Comments

niello8 May 8th, 2009
12:17 pm

#1

interestingly enough this house (and the one next door) on the 1200 block of 4th street nw is currently undergoing renovation and looks GORGEOUS.

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Blogs Linking to this Article

Linked From: May 13th, 2009
1:09 pm
Washington D.C. Foreclosure Filings Jump 42 Percent - Housing Complex - Washington City Paper

[...] there’s any silver lining in these stats, its that the new numbers may assist the District in acquiring stimulus money for rehabbing foreclosed and abandoned properties—something, it was planning on doing [...]
Linked From: May 13th, 2009
2:38 pm
HUD Map Rates Your Neighborhood’s Foreclosure Problem - Housing Complex - Washington City Paper

[...] This map is tied to the Neighborhood Stabilization Program, which will provide stimulus funds for rehabbing abandoned and foreclosure properties in intensely affected neighborhoods. The Department of Housing and Community Development intends to apply for grant money. [...]