HUD EXPANDS NEIGHBORHOOD STABILIZATION PROGRAM IN CUYAHOGA COUNTY

WASHINGTON, DC – July 5, 2010 – (RealEstateRama) — The U.S. Department of Housing and Urban Development today announced an agreement with the Cuyahoga County Land Reutilization Corporation (CCLRC) to stabilize neighborhoods hard-hit by foreclosure in Cleveland and Cuyahoga County by selling foreclosed homes to the CCLRC for as little as $100. The agreement announced today follows a similar successful program launched in Cleveland in which HUD transferred 441 foreclosed properties to the City at deep discount in just over a year


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U.S. Department of Housing and Urban Development (HUD) is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development, and enforces the nation’s fair housing laws.

Contact:

Brian Sullivan
(202) 708-0685

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