Cleveland and HUD made a pilot program here that allows the city and nonprofit development groups to have first dibs on HUD homes valued at $20,000 or less. The worst homes are razed; salvagable homes are rehabbed
Original post:
HUD gives first dibs on low-value houses in Cleveland to the city and nonprofit groups (The Cleveland Plain Dealer)
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Tags: agency, city, cuyahoga, dibs-on-hud, homes-valued, HUD Homes, nonprofit-development, obama, sow-misery, the-property, worst-homes
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on Sunday, November 22nd, 2009 at 2:04 am and is filed under HUD, HUD Homes.
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The Fannie Mae First Look program was piloted last year in targeted Cleveland neighborhoods and gave the city, nonprofits, and potential owner-occupants 15 days to make an offer before homes were made available to the general market. ... its kind in the country: HUD is giving the city or designated nonprofit development groups first dibs on all its foreclosed property in the city valued at $20000 or less. The price is $100. They can get higher priced homes at a discount. ...