The $211 Million Question - What’s the Status of Chicago's Neighborhood Stabilization Program?

“It’s pretty discouraging to know that over $211 million has been set aside from HUD and local foundations, and we look around, and can’t see any changes”, said Valerie Leonard, one of the group’s members. “We hope this program is not another bank bailout disguised as an affordable housing program.” The NSP program is designed to purchase REO’s (“real estate owned properties”) in which the properties have been foreclosed on and have been taken back by the mortgage lender or trustee.

Link: https://mail.google.com/mail/?hl=en&shva=1#inbox/126331fe86f6b286 (via shareaholic)

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