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Fixing Foreclosures

December 24th, 2009 by Matt Smith

All right, so fixing a foreclosure is sort of like fixing a divorce. Everyone involved might someday end up happier, but there’s no avoiding the damage that’s already been done. The word foreclosure originally meant ‘to prevent escape.’ With this catch in mind: a little good news. Our old friends at the Maryland Department of Housing and Community Development (DHCD) have gone in with the Department of Housing and Urban Development  (HUD) to get Baltimore Housing  a big, bureaucratic secular holiday gift: $5.8 million.

  The money is specifically for the Neighborhood Stabilization Program  (NSP), one of the countless acronymic offspring of last year’s Economic Recovery Act. NSP is meant to help local communities to defibrillate properties that are flatlining as a result of foreclosure, abandonment, or general blight. It’s a whole government program aimed at making cities not look like the set of The Road.

  Through the NSP, independent organizations including Habitat for Humanity, the St. Ambrose Housing Aid Center, Empire Homes, and People Encouraging People  will renovate and develop old and new affordable housing. It will be good to see some moribund parts of Baltimore given new life. It will be particularly good if this can be done without scattering all the struggling residents.

  What are your hopes for Baltimore’s new year?

Posted in: Development News, Real Estate - Buying, Selling, Talking About It.No Comments

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