Monday, July 13, 2009
Green Bay is going into the business of buying homes thanks to money from the federal government.
Jason Davis knows all too well the eyesore of foreclosed homes. For months, he lived right next door to one.
"It was so bad that we were considering putting up a fence along the side just so we couldn't see it," he says. "They had left garbage in the back."
Davis, who's the President of the Tank Neighborhood Association, says he's seen foreclosures rise recently. In fact, according to the city, Green Bay has roughly 350 properties now owned by a bank. Green Bay asked the federal government for $8 million to buy foreclosed homes. It received $2 million. The mayor says that money will likely only cover cleaning up houses downtown.
"When you have to acquire the property and bring it up to code and make sure its a quality property, that may limit us to maybe 25 -30 properties," says Green Bay Mayor Jim Schmitt. "That's 10% of what we have."
Despite receiving less than what the city hoped for, Mayor Schmitt says the area will still see improvement. Leaders just have to find ways to stretch their dollar.
"It's something were excited about," says Schmitt. "We could use more money but were going to leverage money we have to strengthen neighborhoods and the Green Bay community."
The community should see the federal funds by the fall. It has 18 months to use it. Though not on the list right now, Jason Davis hopes the Tank Neighborhood sees some money, too. So more foreclosed homes end up like this, his new next door neighbor.
"When homes are made affordable again and livable again, that will create a better place. A more attractive place for people to come," says Davis.
Source : http://www.wbay.com/Global/story.asp?S=10713628
Jason Davis knows all too well the eyesore of foreclosed homes. For months, he lived right next door to one.
"It was so bad that we were considering putting up a fence along the side just so we couldn't see it," he says. "They had left garbage in the back."
Davis, who's the President of the Tank Neighborhood Association, says he's seen foreclosures rise recently. In fact, according to the city, Green Bay has roughly 350 properties now owned by a bank. Green Bay asked the federal government for $8 million to buy foreclosed homes. It received $2 million. The mayor says that money will likely only cover cleaning up houses downtown.
"When you have to acquire the property and bring it up to code and make sure its a quality property, that may limit us to maybe 25 -30 properties," says Green Bay Mayor Jim Schmitt. "That's 10% of what we have."
Despite receiving less than what the city hoped for, Mayor Schmitt says the area will still see improvement. Leaders just have to find ways to stretch their dollar.
"It's something were excited about," says Schmitt. "We could use more money but were going to leverage money we have to strengthen neighborhoods and the Green Bay community."
The community should see the federal funds by the fall. It has 18 months to use it. Though not on the list right now, Jason Davis hopes the Tank Neighborhood sees some money, too. So more foreclosed homes end up like this, his new next door neighbor.
"When homes are made affordable again and livable again, that will create a better place. A more attractive place for people to come," says Davis.
Source : http://www.wbay.com/Global/story.asp?S=10713628
posted by Avoid foreclosure, We buy houses, Stop foreclosure
@ 6:45 AM
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