Project Rebuild: Obama's $15B Foreclosure Plan

Tucked away in the $447 billion job creation plan that President Obama unveiled late last week are billions of dollars set aside to rehab foreclosed homes and businesses.
Specifically, the bill calls for a $15 billion fund that would be used to hire construction workers to bring the distressed properties back up to snuff. The aim is two-fold: provide jobs to those in the construction industry (who need them) and enhance the value of properties surrounding the foreclosures by making the distressed properties livable again. Details of the program, called Project Rebuild, are few, other than that the funds would also be used to rehab commercial foreclosures.
If the bill is passed with this program intact, it could be used in conjunction with the administration’s plan to rent out foreclosures around the country.
See other articles related to: hud, obama, project rebuild
This article originally published at https://dc.urbanturf.com/articles/blog/project_rebuild_obamas_15b_foreclosure_plan/4139.
Most Popular... This Week • Last 30 Days • Ever

Why condo fees are high in some buildings and low in others can be a difficult questi... read »

When sellers haven't quite lined up their next house before their settlement date com... read »

In this edition of First-Timer Primer, we look into the question of how to determine ... read »

The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »

Here's what you need to know about reporting profit made from the sale of your home.... read »
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. Visit guides.urbanturf.com or 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