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Foreclosure Help On the Way

Forty-five communities will benefit from an agreement involving funds from Wells Fargo Bank to address housing needs in minority neighborhoods struggling with foreclosure. This agreement -- between Wells Fargo Bank, the US Department of Housing and Urban Development (HUD), the National Fair Housing Alliance and 13 private fair housing organizations -- will include $39 million from Wells Fargo to support home ownership, neighborhood stabilization, rehabilitation and housing development activities. It will also address Wells Fargo’s maintenance and marketing of real estate owned (REO) properties, including revision of the procedure manual, an inspection checklist and improved training program for brokers and real estate agents listing REO properties. Cities to be served under this program are listed in the article.  Read more

SOURCE: Safeguard Properties