P.G, Montgomery County Allot Federal Foreclosure Aid
✉️ Want to forward this article? Click here.
The Washington Examiner is reporting that both Montgomery and Prince George’s counties have allotted the majority of federal funds that were provided to aid “foreclosure-ridden neighborhoods” at a rate that far outpaces the national average.
Combined, the two counties received a total of $13 million, with Prince George’s County receiving the brunt ($11 million) of the funds. According to the Examiner, P.G. County has earmarked about 80 percent of the funds while Montgomery County has allotted their entire share. DC also received close to $3 million that has largely been used to aid the foreclosure-plagued neighborhood of Ivy City.
The question that many readers, including this writer, still have is: Where and how will this money be spent and will it be enough to make a dent in some of the areas hardest hit by the foreclosure crisis?
In early January, we wrote about a report released by the website Housing Predictor that forecasted that Prince George’s County would be one of the worst performing markets in 2010. Hopefully this funding will help the county avoid this dubious honor.
Similar Posts:
- The Ins and Outs of the Foreclosure Hunt
- WSJ: New Site Allows Users to Buy Foreclosures With “Click of a Mouse”
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/p.g_montgomery_county_allot_federal_foreclosure_aid/1945.
UrbanTurf Listings showcases the DC metro area's best properties available for sale.
Most Popular... This Week • Last 30 Days • Ever
Today, UrbanTurf takes a look at the large residential developments in the works for ... read »
The new homes at The Grove at Spring Valley boast five bedrooms, six-and-a-half bathr... read »
A six-figure salary goes a long way in most of the country's rental markets, but in t... read »
This week's installment of Under Contract focuses on two listings that have found buy... read »
Glover Park has an office-to-residential conversion of its own to add to the growing ... read »
- A Diner, A Mall + 1,340 Units: A Look At Downtown Silver Spring's Development Pipeline
- A First Look at a New Trio of Luxury Homes in Spring Valley
- A $100K Income Gets DC-Area Renters About 900 Square Feet, Zillow Finds
- Under Contract (With Contingencies): 14th Street's Hidden Penthouse
- Monument Realty Plans 82-Unit Conversion in Glover Park
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro
