Saturday, September 27, 2008

Arizona gets federal cash on foreclosure impact

Arizona is getting federal money to help communities cope with the effects of foreclosures.

The Governor's Office says the Department of Housing and Urban Development will provide $38 million to the Arizona Department of Housing.

According to the Governor's Office, the neighborhood grant money can be used by local governments and non-profits to buy foreclosed homes, rehabilitate them and make it available to home buyers.

That helps communities by reducing the number of vacant homes, a step that helps combat crime.

I'm not so sure how this will be conducted. This story leaves me with a lot of questions to tell the truth.

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